It's definitely that, which is very valuable, but it's also the optionality value additionally. You had the option to launch the thing, which you wouldn't have had if you had never worked on it at all. It's notoriously difficult to properly value optionality, but it definitely has value, and often a lot of value.

Shouldn't companies figure this out before wasting tens of millions in budget + working hours? All I'm reading is that corporations are not taxed enough if they are okay with such opulent waste.