Not just in the US, I see it in UK acadaemia as well. There are millions of pounds for funding shiny new equipment. But funding the ongoing running costs, consumables, maintenance, technical support staff and the like? Not so much. So you end up with huge capital expenditures going to waste or being underutilised, not because there is any fault with the kit, but because there's no dedicated staff to maintain and support it, train people to use it, and pay for the ongoing running costs. I've worked in some places that do a very good job, but in other places there's prestige to be gained by getting the funding to buy the biggest and shiniest toy with all the extra knobs on. But the people who get the funding and do the purchasing are rarely the people who actually have to use the kit, the actual requirements often come second. In many cases, making do with something a quarter of the price would do the job just as well, and be much more affordable when bits need replacing. Hell, buy two up front and still have half the cash left over for consumables and staffing. Unfortunately, funding and budgeting is insane and makes no sense, and many of the people involved aren't even sufficiently competent to run their own household budgets.
Arecibo is a great shame, but I think it's fair to say it's had a good long run, and would have had to be decommissioned at some point. After the damage that's been inflicted and the generally poor state it's in now, it may well be much cheaper to start over than repair it. Assuming there's still a demand for it, hopefully there will be the possibility for a new one to be built again in the future. But you are likely to be completely correct that had it been funded properly, routine maintenance should have prevented the problems from happening in the first place.