Just remember that 50 year old profs came of age in a different era.
I am trying to make a point that in the world of vicious competition for grant money, every shitty incremental experiment is lauded as groundbreaking. For very understandable reasons.
I'm being facetious about the way that the key quality of a scientist has shifted from doing and teaching science to being a great marketer who can win grants. The "best" scientists these days are generally the ones who are really great at hype.
I agree there are problems with how science works right now, and I agree on what the problems are. I disagree on the weights of the incentives, though. You describe "rampant" fraud. I have observed none. Then my conclusion is that the claim that fraud is rampant is incorrect.
I think the economics often are perverse, but I think you're doing a disservice to the overall discussion by simplifying it too much.