Corporatized research is a safe bet and guaranteed to succeed—whatever it’s producing is often based on some fundamental truth. The risky research isn’t meant for corporate endeavors till it clears some threshold which readies it for commercialization. So I think the dichotomy between corporate and risky research is false, and instead all research lies on a spectrum of Risk. You need research from all along the spectrum for any kind of technological advancement.

The author is an academic idealist, and bemoaning the low priority that his institution ( https://en.wikipedia.org/wiki/University_of_Oxford ) gives to traditional academic functions (education & research).

Wikipedia seems to say that Oxford is ultimately controlled by its alumni, who elect the chancellor, vice-chancellor, and other top officials.

Theory: Oxford's alumni are quite content with the "sufficient academics & architecture to keep up appearances, otherwise boost the bloat" strategy.

Guess: The author is quite aware of this preference, but knows that publicly speaking of it would be bad for his career. Vs. lip-service idealism is safe.