Interesting viewpoint.

Considering that every chip supplier offers dual-interface option, the true cost of adding contactless interface to a card is less than 25 cents... The problem with contactless cards - floor limit (after which you need to enter PIN or sign, which defeats the purpose of speedy contactless interface).

One doesn't necessarily need ubiquity to ignite the market. Have a look at Uber...

But I do agree that all that money could indeed be spent better. The problem with payments, however, is not the technology, but the business case of having to feed too many mouths with conflicting interests. Hence, lack of even remotely coordinated effort.