Depends on your definition of waste. Isn't the unit that is investigating a special branch that specializes in computer theft? Clearly the local ordinances think having such a branch is worth its budgeting dollars.
Yet, Gizmodo didn't commit theft now did they? The guy who got the phone the first time did. They are however, guilty of purchasing something. What it was, they explicitly explained, they did not know. They were going on a whim to see if it was real. A business move, that resulted in success.