Is the F35 a waste of time?

Personally, I’m thinking that the F-35 might have been a complete waste of time, at least for the USAF. Would it be better to have a fleet of stealthy air dominance aircraft with SDBs and JDAMs for first day/high value/DEAD duties on the ground, and then non stealthy, cheaper legacy style aircraft for everything else?

In the case of airforces who want to field only one type of combat aircraft, then the F35 jack of all trades might be appropriate, but if you are in the market for a hi-lo capability spread then spending so much on the lightning 2 might be like using a Rolls Royce as a taxi; it’ll do the job well, but its too expensive.