Why would that be a waste? The average professor at any college would probably be as smart as your friend. Professors (at least in the field I did my PhD in) are smart as hell.
I have a fairly Ivy-League family, including a number of teachers and professors (I'm the redneck engineer).
This guy is in a league of his own. Pretty stunning.
I would be quite surprised if "any college professor" is at the same level.
That said, I am also very much a "maker and doer." I spent my career amongst folks sort of like him, but focused on producing stuff. He would have knocked most of them, into a cocked hat.
The average college professor did their PhD at an ivy league school and everyone said exactly what you're saying about them their whole lives. A professor job is extremely competitive.
It just sounds like you're describing almost the ideal outcome for this person as a failure. They're actually incredibly successful if they've got tenure at a good American college.