I'm not sure the appearance of competence is cheaper in the real world though

You may be correct in terms of equipment and research, but not in terms of hiring competent staff. It might be that Meoldy's assessment of the situation is closer to the truth:

When I tried to convince my manager that the equipment SA needed to perform these procedures already existed, I was met with a tremendous amount of resistance. I wanted to believe that person was simply ignorant of vascular cannulations and perfusion and the related equipment, but it was impossible to believe that, for very long. It soon became quite clear to me that he did not want to use existing equipment because the "research" we were doing was the construction of HIS designs. Not only were his designs vastly inferior to existing equipment, but they were exponentially more expensive than existing equipment, due to the man-hours involved. He was easily making six figures, and he was paying several people, very generously, to assist him with his "R&D" projects, none of which would have made sense to anyone familiar with the medical procedures SA was trying to deliver. (He was also engaging in adolescent, manipulative behaviors, such as asking his employees to spy on one another, and coercing them into allowing him to use their email addresses, to support his own projects and further his political agendas.)

What are your thoughts on her conclusions?

There is a non-monetary incentive to actually be competent.

I agree only to a certain extent--I wouldn't be surprised if a large number of cryonicists were just trying to make some money. From Melody's blog:

At first, I was unaware of the amount of money involved, so when I was told SA couldn't buy certain equipment, or hire qualified personnel, because such things were "too expensive," I believed those lies. Later, I found out Suspended Animation was receiving over a million dollars a year, from Life Extension Foundation (LEF) / Saul Kent and Bill Faloon. Others at Suspended Animation agreed with me, that the many of the projects were a ridiculous waste of time and money, but at least two of them encouraged me to "play along," so we could all keep collecting our very generous salaries. It's hard to blame them, for wanting that. We could come and go, as we pleased, or sit at our desks playing on the Internet all day, and no one would complain...at least not for so long as we didn't object to the mind-bendingly ridiculous design and fabrication projects, going on in the workshop.