On the other hand, if there are potential commercial applications 10-20 years in the future, it may not be the best idea for the government to fund the research

On the other hand, if there are potential commercial applications 10-20 years in the future, it may not be the best idea for the government to fund the research. The topic is already concrete enough for the market, and it could be a waste of tax money to fund it. There is a lot more money in commercial research than publicly funded research. The government should focus on funding topics where the applications are too uncertain or too far in the future to make sense in the market.