If you compare to where the previous generation of solid PLs and infrastructure research/development came from, I think what's missing currently is well-funded industrial research labs where such developers used to be able to park themselves while still releasing their languages/compilers for free, sidestepping the business-model question.

Not all languages came that way, but some of the major ones did: C was Bell Labs, C++ was also Bell Labs, Smalltalk was Xerox PARC. The main contemporary example in that vein is probably Go coming out of Google, though it remains to be seen how mature and widely used it'll get. For compiler projects, V8 coming out of Google and LLVM now being funded by Apple are two examples. Java is an example developed by a company with an eye towards product/monetization rather than as a research project, but is probably these days seen as a cautionary tale of why not to approach PLs as a business opportunity, because Sun pretty convincingly failed to monetize it.