Thing is the point of the LHC isn't really to find the Higgs boson (the God particle name really is oversensationalized). For most physicists the existence of the Higgs boson is a foregone conclusion. When they see the experimental proof it will be little more than a hmm, well looky there, what we knew all along is true.
The true purpose of the LHC is to uncover the unknown by probing energy ranges that have never been seen before. The LHC will payoff when they find a result that they have no idea how to explain which will push for new physics.
All of these things may or may not have a direct practical application. When they started building accelerators they had no clue that it would later be used for cancer treatments. Does that mean that just because practical benefit is not immediately obvious that pushing the boundaries of experimentation is a waste of money?
I think not.
Disclaimer: IAAP (in training, no Ph.D. yet) and have studied with a professor that is directly involved in the LHC.