Given I have little choice in how that money is spent on a large scale at the federal level (beyond voting for my senate, presidential, and house representatives). I am happy that least some of it is going to help develop a new technology that has needed more support and could have a large positive impact. Even if the chances of success aren't definite, at least they have a working product.
While listening to my fellow colleagues and friends reflect on how much is spent on hourly rates for defense contractors here in washington dc that have very little working product I don't feel as bad.
Although, I agree that it can be a negative as we are investing a company with foreign interest and already wealthy private equity holders. To resolve your issue more stipulations could have been made for Tesla in order to grant them the money so that the public can somehow have a more assured return on investment.