Could you get any melodramatic? Sounds like it should be a speech in Top Gun.
It has nothing to do with risk aversion to do and everything with there being few compelling reasons to build a moon base apart from chauvinism. I can't speak for the reasons for going 40 years ago, but I suspect chauvinism and grandstanding was a big part of it back then, too. I guess that's what you call desire/ambition/duty/honor/competitiveness.
And to the people trumpeting the "trickle down" research benefits from doing bizarre prestige projects like this -- that's a moderately reasonable argument, but one that can be made for any project of such magnitude. Once you're willing to accept that the end goal of the project is less important than the research it generates, a virtually unlimited number of projects start to be reasonable. Make a national effort to dig the deepest hole, ever, and you'll get some actual useful research out of it.
If you argue in terms of trickle down research and not on the practical merits of the project itself, you have to argue why the project has the most promising trickle down research. I.e. why would a moon base result in more useful research than digging a deep hole; and not just that, why would it result in more useful research than all the other conceivable ultimately pointless projects. Not to mention all those huge-scale projects which do have merit and which would all result in useful "trickle down" research as well. E.g. ultra high speed passenger trains along the coasts, all kinds of medical research projects, energy research. I'm sure the national highway system -- a project of epic scale and of immediate utility -- had some useful research coming out of it, despite not being particularly high tech.