Do you have a particular quote you'd like to cite? Even the experts can be loudly wrong about their own area of expertise, like that famous chestnut about Thomas Watson thought the world only needs five personal computers at most.
And people aren't getting their research programs slashed so that they can buy a new machine from Illumina. They're getting their funding slashed because of an ignorant Congress that doesn't value scientific research and squabbles like children over every single budget negotiation. Again, please provide quotes about this "vision" - smacks of a strawman to me.
Regardless, my point still stands. Maybe you don't like the hype, but that doesn't mean that geneticists and biologists haven't made amazing progress with those very tools.
EDIT AT 12:12p: I would respond further in this discussion, but because I'm a n00b to the board I'm restricted to three replies per post. But in parting: there's no logical fallacy in my post - if there was no money poured into the HGP and (to a lesser degree) HapMap, then yes, we would absolutely be considerably more ignorant about human biology and genetics, and would lack the skills, knowledge and technology to move medicine forward. Was everything as efficient as I would like it to have been? Hell no. What big program (public/private/academic/nonprofit) is? Was it worth the money? Hell yes.
Missed your edit about the HapMap commentary, will look into that - but again, these research efforts were all valuable building blocks even if they weren't universal solutions. I'm not here to champion Collins or say he never put his foot in his mouth. I'm making a bigger point about the value of the technology once you get past the hype.
The fact is, academic scientists who are 'saving the day' (per your post above) from 'dumb pharmas' who wasted their money are among the biggest champions and early adopters of these genomics technologies and the big corporations that are reluctant to move into this area. What do you think these academic scientists are doing, sequencing DNA by hand? Figuring out protein structures with a pencil and paper? I worked in an academic bio lab in the 90s - trust me, I would have killed for a modern genome sequencing platform, and so would every single person in my department.