I claim it has been wasted because, objectively, zero utility has been produced.
I agree that money can be a useful signal, but it's far from infallible. The vast majority of all VC investments fail generate a postive ROI. Therefore, VC investment != validation.
In regards to QC, the investment is a signal for desire/hope and gullability, not validiation of the research or technology.
I would venture to guess that none of the people making the financial allocations into QC understand it.