This is just the Politician's Syllogism[0], though:
We must do something.
This is something.
Therefore we must do this.
Are the detractors of string theory saying we should stop doing fundamental physics entirely? I don't think so
My understanding of string theory is that there isn't even a proper string theory variant of the Standard Model, and that most of the models people are trying out are basically toy models that kinda resemble, say, QED. This means it's not even coherent enough to ask the question if it fits existing data, which is part of the premise of it being "not even wrong."
Nobody knows this since there is no exact mathematical formulation of "the theory" to begin with.
> that fits existing data
Nobody knows this either since nobody has derived either General Relativity or the Standard Model of particle physics as an approximation to any string theory model.
1. Scientists are entirely human. Sometimes I think people expect more from both science and scientists. In the end, getting knowledge is hard. I have a copy of the Oxford Handbook of Epistemology which I keep on my night stand and every once and awhile it amuses me to read the first few chapters the upshot of which is "Fuck, we don't know how we know anything, really." Science works by having lots of unfruitfrul research programs. I won't say that research programs don't get "pathological" from time to time, in the sense that more energy is invested in them than it should be, but this is often only really discernible in retrospect. Even if a naysayer turns out to be right after a program has been explored, it doesn't mean that the naysayer was justified before the cards were all on the table.
2. Whether we like it or not, the search for truth is a practical matter, involving courting reputation, earning research money, winning war of ideas. This isn't so much new as it is profoundly more democratic than it used to be. Newton was famous for aggressively defending his reputation, to the point of arguably claiming to have invented things that he did not. Now we just have many, many, many more humans involved in science.
Indeed, this is exhausting and many scientists do hate this, but in the existing system, if you don't play by these rules, you will have difficulties collecting funding and/or a tenured position.
Particle physics is in a really weird place. I'm a layperson, but it seems to me we're in a position where either our technology is extremely far off from being able to collect the data we need, or we've missed something very fundamental in our approach, and it's going to take a major rethinking to figure anything out. I am not optimistic that we're going to make any significant headway here in my lifetime.
Though, as a layperson my opinion on all of this isn't worth the electricity used by my computer when writing it.
This seems like a fundamental problem. If data is out of reach, we're left with nothing but noodling around with mathematics and simulation.