Bell Labs was not created to be a stand alone company. It was created with the express purpose of being a laboratory, hence the name. Its main product was patents, and some copyrightable code.

The fact that it led to useful products is the reason it was established in the first place: a very long term plan from a company that could easily afford it.

And since it strengthened the company that decided to commit the resources it definitely can be considered a success.

There are a few more examples of such institutions, some more successful, others less so but overall doing basic research in a time when tech is in a state of flux looks like it is a winning strategy.