This is also my stance. The fact that large numbers of people spend large amounts of publicly-funded time exploring what are essentially abstract puzzles is bizarre and not that different from, like, cloistered religious devotees who are supported in spending their time studying scripture and are considered to be the 'source' from which flows a certain kind of universal truth.

Not that it is wrong for them to be doing this---we do want a society where people get to devote their life to what interests them---but it is bizarre because of the framing. For some reason it is ambiently understood in our society that this work is of incontrovertible value, when in fact it is largely not. And the value-producing parts of the work, the parts that end up having applications to other fields, largely run contrary to the actual daily goals of the cloistered devotees: it is mostly the intuition and pedagogy and the compactification and refactoring of knowledge that have value at this point, not the production of esoteric theorems, yet that is expressly not rewarded in the incentive structures.

That latter point is more due to the sorry state of academic incentives in general than to a particular failing of mathematics, though. Were I somehow given the ability to restructure things by fiat I would immediately create journals which publish only useful articles that refactor knowledge, communicate intuition, better explain things, argue for structural improvements to notation and terminology, etc, and this would immediately create an incentive to do that kind of work for working researchers to do work which aligns with the actually-useful output of their fields. I suspect most fields could use something like this. New knowledge is just not that valuable if it is all dumped into a giant pile and unprocessed, and I have seen firsthand a bunch examples where entire subdisciplines are hamstrung in their actual application-heavy work because they don't have easy access to basic tools that are hidden behind hard-to-learn theory.