A better model was that Rometty was not good at choosing what to fund and which bets to make. kinda a failed VC fund.
Lookup the saga of HP's memristor followed by "The Machine" for a similar story.
Then I guess we can throw out Xerox Parc's NLS because they never commercialized "windows, hypertext, graphics, video conferencing, the computer mouse, word processing, dynamic file linking, revision control, and a collaborative real-time editor." They were commercialized by others later on.
https://en.wikipedia.org/wiki/The_Mother_of_All_Demos
We can also throw out most psych, social science, archeology, and history R&D, too.
Yes.
Fun fact: funded by ARPA
Archeology / history, on the other hand, definitely have some pretty awesome finds.
And the laser, which took a few decades to find an application.
It attracts playful wizards. If you get enough of those no amount of zombies can beat them.