This field is so underfunded, but progress is still being made. Check out Commonwealth Fusion and their progress with insanely powerful compact energy efficient magnets. They recently clocked a stable 20T magnetic field.
Calling fusion research underfunded is rich(no pun intended). Costs for ITER are estimated to 45 to 65 billion USD it's one of the most ambitious and costly science projects in the world to date. That's not even accounting for all the other fusion projects. There are many areas in science that receive significantly less funding. I would also argue that the prevelant perception that fusion would lead to to essentially…
For fusion, this key technology limiter is the superconducting magnetic tape. Even small improvements in field strength have a dramatic non-linear improvement in fusion power gain. ITER started their design work decades ago and will continue construction for decades more. Meanwhile, SC magnetic tape technology has moved on, making the entire enterprise a dead-end waste of time and money. They got bogged down in the paperwork and bureaucracy of the “rest of the facility” with no hope of making actual working reactor.
There are many instances of this issue in industry, and in my experience large government bureaucracies are pathologically incapable of planning ahead for where the puck will be instead of where the puck was.
I like to imagine what would happen if a rich industrialist like Bezos or Musk approached the problem: First, spend a few billion on superconductor tape research and then start building many small reactors that are minimal test beds while in parallel improving the magnets. Only “go big” once the reactor can produce net power.
See also: NASA spending billions per launch on the SLS with a couple of test launches per decade while SpaceX spends millions per Starship and plans half a dozen test launches this year!