I believe the point was that it's more wasteful than continuing to drive a perfectly serviceable older vehicle, not that leasing is inherently any more wasteful than trading in for a new late-model vehicle every year or two.

Well, in most cases buying out a lease is an unwise financial decision. Encouraging people to lease with subsidies and then driving down the cost of second-hand EVs doesn't seem like a bad way to go if your goal is to spur adoption.