Exactly! I have some many colleagues who typically say that they do "math for the beauty" while holding permanent research positions funded by the state.
Progress is made by these people - including progress you rely on heavily as a programmer, such as cryptography. Not by the industry.
That seems OK to me. I'd rather live in a state that funds beauty than one that doesn't. Think grants for artists, etc. A strictly practical world is not a good world to live in.