SETI@Home did some meta-useful work pioneering crowdsourcing of scientific-computing resources (later used by Folding@Home and others). No idea about the actual results of the data collection/analysis, though. Obviously they haven't succeeded in the headline goal of finding extraterrestrial intelligence, but I would be surprised if they haven't found something interesting about analyzing vast quantities of signals (and anomalies in those signals) along the way.

Plus, I'm inclined to give them the benefit of the doubt because they're asking for an amount of money ($200k) that, by the standards of scientific research grants, is extremely small, so it's not taking a huge risk.