Earlier quoted context omitted.
ISS cost ~200 billion, saying we can't do the same research for less is kind of a high hurdle when it's close enough for minimal lag, nobody tried, and people need a lot of ridiculously expensive consumables.
The lag isn't the hurdle it's making the robotics on the satellite to run the experiment. The closest analog is probably the robot that's used to service the JET reactor at Culham Centre for Fusion Energy [0]. With a station for some types of failures with experiments an astronaut can work around or heavily reconfigure the equipment to still get good data. Without a person up there every experiment launch would have…
Consider, fixing Hubble was a big thing, but we could have sent 3 of them up for less money.
As to micro G, we could send a mars mission with simulated gravity. Which is something we really should be testing instead of simply yet another long stay in micro G.
PS: Some of the most interesting recent experiments have been flame studies in micro gravity. But many of these can be done with 20 seconds of vomit comet zero g time or just a simple drop test like: https://www.youtube.com/watch?v=SZTl7oi05dQ