I would say it's possible, but not in a way that's easily findable or fixable. How do you tell the difference between all the scientific research projects that haven't found anything useful yet? Which will go nowhere and waste time and money and which will lead to small but useful discoveries?

It's probably easier to usefully think about this in terms of specific fields rather than science in general. I could easily imagine that for example, there are way more people with anthropology degrees than useful anthropology going on.