I can totally see where you're coming from. But major engineering achievements require efforts of many skilled people, who often like to be paid really well for their work. And the way the world works today is that a lot of big money is in the fields that are of questionable value to the society: advertising, finance, military, etc. And even in the fields that seem at first glance to be socially valuable, like health care, most of money comes not from healing people but from playing the game of "rip off public or private coverage providers".

Therefore I think the best we can hope for is that engineering breakthroughs achieved in profit driven fields will gradually leak into other fields where they can actually be used to improve people's lives.