Oh--no question about that. An occasional pure math course just to keep you sharp on your analytical techniques is definitely good (and was one of my most favorite courses in my last semester of undergraduate studies), but the idea to just go overboard on this, that, and the other thing with no application to the real world seems to me a bit wasteful.
As for finding an application, why not simply attack a real world problem with whatever tools you have and see what works?
To paraphrase the flavor text of Goblin Piledriver, which reads:
"Throw enough goblins at the problem, and it'll go away. At the very least, there'll be fewer goblins."
Throw enough approaches at the problem, and it'll be solved. At the very least, you'll have saved a lot of other people a lot of time.