I doubt the research spent on the LS-FC is wasted though. After all integrating an electric powertrain is easier than a conventional powertrain involving ICEs, as long as your base platform is designed to accomodate eletrification (which is true for TNGA). So I don't think the actual engineering effort involved in this program is even comparable to, say, the hypothetical LS-F.
Now I actually feel much better that they are cancelling White Elephant projects like the LS-FC. There is just no demand for such a vehicle, and what 'halo effect' can it achieve anyway? The money is much better spent on actual fuel cell/battery/autonomous driving development.
We know TMC will not back out of their FCV effort especially considering they got China on their boat. Li's visit to Toyota's Mirai factory resulted in a significant rethinking of China's EV policy and Abe's subsequent visit materialized into an agreement to align their future EV policies.
It's not about the accountants. Politics are just as important for EVs as the engineering aspect, if not more.
But anyway we know that the focus has now shifted to commercial vehicles, which should be the direction they should have went in the first place.