We're not anywhere near a technological plateau, we just lost track on funding. Until the fall of the Soviet Union, the US invested a lot of money in foundational research, often not even caring if it would prove useful or possible, and with big enough money behind it that people could plan careers.
These days, researchers have to waste half their working time to chasing the few grants that are still available, and forget about a stable career, job security or enough work-life balance to found a family.
I think it's worth every penny, but at first glance it feels incredibly abstract and disconnected from practical application, as well as expensive. (Though, to be honest, I just looked up the LHC cost and $9Bn USD doesn't feel expensive. I was expected it to come up in the hundreds of billions.)
There's also this famous quote that is frequently mis-attributed to Kelvin: "There is nothing new to be discovered in physics now. All that remains is more and more precise measurement".[0] (I'm not sure who actually said it.)
[0] https://www.quora.com/Which-19th-century-physicist-famously-...
One human lifespan will be seen as a trivial amount of time to the next step of humanity.
https://www.forbes.com/sites/startswithabang/2016/05/12/the-...
And at some point we also don't have infinite time - we will have heat death of the universe at some point too.
So they can't both be right.
https://www.theguardian.com/news/2015/nov/04/relativity-quan...
For example, we could explain that electricity works because of how electrons move, which would be correct from our point of view, but if we find out that we were living in a simulation, then the explanation would be that this is how "electricity" was coded to behave.
Also, usually in physics a formula is thought to be correct until some new laws/rules are found, then the formula is updated by adding some extra terms and then again thought to be correct.
Max Planck was famously discouraged from studying physics by one of his professors because "in this field, almost everything is already discovered, and all that remains is to fill a few holes." [1]
Having studied physics myself, my opinion is that we may very well be at a similar point right now. The big advancements of the last century in physics (quantum theory, relativity, chaos theory, etc.) brought us an era of swift and sweeping technological progress, and now the easy fruit seems to have been plucked. But there are still plenty of known unknowns, dark matter and dark energy being perhaps the most prominent one. Who knows what unknown unknowns are hiding behind those known unknowns?
[1] https://en.wikipedia.org/wiki/Philipp_von_Jolly