Nope, money is one of the strongest possible signals. You claiming that it's "wasted" is subjective. The money being put at risk is an objective signal, one could argue that investment is a form of prediction market.
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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.