I'm here with you - $11m for pure long-term development without any hands-on application seems like a clear path to an over-engineered solution.
Although they have enough money to not do consulting - I strongly suggest they take on strategic apps (even for free!) that push the boundaries of the framework. It'll be a better product for it.
The question is do you build "real valuable applications" or "not so useful but demo like apps". We built the 2nd category apps in first go and now with our customers we are helping them build the first category of applications.