It's pretty disrespectful to signal (without evidence or elaboration) that researchers are not credible (or worse, broadly lying) in order to keep their research grants flowing. A hypothesis that turns out to be wrong is something both industry and government are obviously not going to invest further in. The people working in the field have skills to transfer to other departments and projects; these aren't the sort of scientists and engineers that are out of ideas or work to do.
It's also plenty obvious that there is no single, monolithic "current research direction" or even that this researcher's work was of fundamental impact when it was published - not to mention the number of people that were highly skeptical from the beginning.