Remember this was still with the whole Moon landing era fresh in mind for so many, that was also a President's speech dream, that seemed equally as wild and fantasy at the time. Yet that happened. SDI was, given the media mindsets of that era, easily to latch onto as - it's going to happen.
Today, we are more cynical/pragmatic/realistic in mindset and with that, do question things and able to do so en-mass more easily with the internet than ever before.
But 30 years later, and only starting to see lasers deployed upon very large ships - shows how long it can take from feasible towards practical and dare say, still kinda in the flintlock stage of it's evolutionary cycle. But then, we may well see power generating inventions born out of the need to power these things, trickling down into consumer hands, which would tie in with the title most aptly.
https://en.wikipedia.org/wiki/Strategic_Defense_Initiative
Which, with how it panned out, does fit: "1) luring foreign militaries down blind alleys of expensive research" most aptly, albeit not put into the wild via a patent and more case of funky CGI graphics pushing a dream as reality.