What does "publication" mean in an Internet Age when anyone can publish anything?
If you mean "vetted by a tiny handful of fallibly-human organizations such as Nature and Cell who may or may not decide to accept your paper regardless of its actual merit and based mostly on how 'hip' the research is," well then we're back to the hazing/cliquey-clusterfuck thing again.
"Grants" seem equivalent to "angel investments" in the startup world... which seem a lot saner, btw.
http://blogs.sciencemag.org/pipeline/archives/2013/09/10/gre...