[jltsiren]

The value is the ability to do science as a career without being independently wealthy.

Politicians, administrators, donors, and taxpayers don't want scientists deciding on their own how to spend the money. They want control over what gets funded. They want funding decisions with justifications they can understand. But they don't understand the science itself, so they need "objective" metrics to support the decisions. And because those metrics matter, people will inevitably game them.