mRNA vaccines took ten years before they "made it" and they needed a black swan event to really take off. Moderna IPO'd eight years in.
I think this is a false premise that we have. That there is any long-term science going on at all in government labs that wouldn't happen in private labs. It's conventional wisdom but not likely to be true.
The market is very sophisticated now. There are players who make decisions outside of any human's life. There are instruments to insure against hundred year events, and it is possible to price both rare and far off successes.
If you've peeked behind the curtain you know there's a lot of fake science there, including photoshoppery of microscope images that's now considered science. It's out there, I've seen it, I know it's real.
Public labs have decoupled success from knowledge and, in doing so, many long-term fundamental science projects are now fake.