I completely agree. If there is one thing we should learn from the debacle of procurement in the last 20 years it is that in future the UK should buy off the shelf every time. Whilst we might not get cutting edge equipment we will get what we need to do the job faster and cheaper than hitherto. In any case if the assumption that there will not be a territorial threat against the UK for at least 30 years is correct why do we need to protect our Defence Industry. Furthermore it is not even as if companies like BAe are even British any more - they are international companies whose main business lies in the US, a Country which spends more than the next 20 big military spenders combined.
Let's stop pretending that we can build our own stuff any more and we will be much better off.
You are making the fatal error in believing that defence procurement is for buying kit and equipment for our Armed Forces.
Sadly, that is not the case.
Defence procurement is all about votes and jobs and in many respects that is how it should be.