I'm not claiming that failure rate is the sole value destruction mechanism. Rather that it is one. The other, perhaps more pernicious, mechanism is solving problems with little to no long term social benefit. (i.e. much entertainment)

Your point about drug discovery helps illustrate the second item. If most of the drugs being pursued were cosmetic in nature, we could challenge the long term benefit of drug discovery.

I appreciate the apology, but that's part of my frustration. My claims do have some grounds for validity and consideration. They have a rational basis.