Can't really comment to be honest because I don't know what other projects are being done and how much they are.
Do I think military spending needs to be cut? Absolutely. Do I suggest I know specifically which things to cut and where? No, because I don't know what all that money is going into. R&D is absolutely important for the military and we need to continue to push the level of technology. The goal needs to be to be proactive, not reactive, in regards to the next great technology for battle. That said, the R&D budget likely does need to be trimmed some. However, I can't speak to whether or not this program is where to trim. There's some definitive benefits that could potentially spring from this program, including budgetary benefits in the long term based on the technology and the lack of need potentially for bases abroad for quick responses.