Earlier quoted context omitted.
We all have to make choices between what we enjoy and have a passion for and what pays the bills. For many of us, there is a degree of overlap though likely not 100%. Our society is not so affluent that, if what you are genuinely excited about is medieval German poetry, you can reasonably expect to be supported with that passion unless you win a very specific academic track lottery (or have other sources of income).
I was thinking more about scientific research, such as funding for pure mathematics, theoretical computer science and such. These are skills that require years of dedicated effort to master the basics and reach a level of understanding that is rigorous enough to start making original contributions and yet offer very little financial compensation in industry. You are right in that a decision has to be made in what are…
I had a few friends who had some ideas but their professors weren't too happy with those. They found a way to incorporate some of the buzzwords for a giant grant our university had, pitched it to the professor, who submitted a grant application, and got them funded on the idea. Professor was happy (he had money), students were happy, but at the end of the day, the process was idiotic.