I agree with you only partially. The investment in the 80th in life science is not really wasted. It has achieved a huge leap in life science itself and, as a byproduct, in biotech industry. More than 90% of new drugs are life science products these days, if you do know the fact.

By the way, in a restricted definition, agriculture is excluded from life science. If you look the funding list of National Institutes of Health, it is clear.