In fact, I'll argue that any money spent on vanity Mars settlements is going to save more lives in a calamity if it is spent helping developing countries lift people out of poverty.
> although I have to think it should be easy enough to see how doing a trial run making mars habitable might translate into ways to save the Earth from becoming inhabitable.
That is hilarious. It is far easier to save the earth than make Mars habitable. It is far easier to study self sustainable pods on Earth than a settlement on Mars.
Atleast be frank why you are interested in a Mars settlement, it has nothing to do with saving humanity.
And smaller impacts that might not completely wipe us off but could cause millions of casualties are possibly even more frequent. Something like Tunguska meteor can potentially kill millions of people if it hits a big metropolis given our current population density. If it hits Tokyo or New York instead of middle of nowhere in Siberia, it would be devastating.
Finally, I don't think a meteor which wiped out dinosaurs will wipe out humans. We can always use a nuclear bunker and save a few hundred humans with years of food to survive on.
However spreading your species across two self-supporting planets makes a planet ending catastrophe less likely to destroy your species.
The knowledge gained from any large engineering/science project is often applicable in unforeseen ways, although I have to think it should be easy enough to see how doing a trial run making mars habitable might translate into ways to save the Earth from becoming inhabitable.