Sure, but we don't have unlimited time and money. Prioritization is obviously a necessity, and therefore I think the OP's point stands. Considering potential tangible rewards shouldn't be seen as a taboo factor in that calculation.
Sure. But we also need a certain base level of research that has zero potential rewards we can imagine now but pushes the boundaries of our knowledge further out. Because a few decades or even centuries later it will become useful.
Evolution is search. These projects create demand for high tech manufacturing, this alone is a net positive. The money isn't burned in a pit, it is spent employing people.
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Basic research should be funded like defense. Allocate a certain percentage of GDP.