HN literally posted a video on how broken the public funding system is (in Physics) days ago: https://news.ycombinator.com/item?id=41808127
This broken system doesn't just stop at Physics. If you watch the video, she does a great job at explaining what exactly is broken.
I'd love you to watch that video and then come back and explain to me why she is wrong and why the system is actually working well and as-intended.