As a long-time academic, yes. Industry does not do research of the same quality as academia; they will not approach as broad a range of questions. No industry would build a large hadron collider, or investigate obscure metabolic pathways or bacterial coat proteins with no known product development goals. Academic freedom doesn't exist in industry.

Furthermore, industry is notoriously tight with the results it produces; even if, internally, it's producing good science, the fact that this science isn't being broadly shared with other people is a huge drag on the pace of progress. Academic openness is indispensible to scientific advancements.