"But, even if it is completely wrong, basically no theory is a waste of time, as long as it is well developed and researched." The problem is that it is not well developed and researched. As said by Nobel laureate P. Anderson this year, string theory is a futile exercise as physics. "A lot of times, the journey is more important than the goal, I think." Well, perhaps, but anybody agree that Einstein unified field theory was a waste of time. He simply ignored experimental data on favour of a "beatiful" idea and he failed. As often ask Nobel laureate Glasgow, why Einstein few years enedeavor is seen like a failure but 30 years-1000 physicists research in string theory do not? "All these extremely intelligent people are sitting around pondering string theory." Yes this is another of myths of string theory propaganda. "String theorists are very smart, rest of people is stupid." Still, and this is a really interesting point, no one string theorists have solved or provided solution to some of most difficult open problems of physics, and some of proposed solutions by them are simply stupid. For example, Brian Greene ideas on quantum-classical correspondence were ridiculized last year by Dyson (Nobel laureate). I think that your emphasis on theories that are still in a initial stage or still nobody know if are both correct or wrong. However, people is critizing string theory because is wrong.