My understanding of the situation (which may be wrong, in which case please let me know) is that physics is stuck at a local optimum.
There are two obvious ways to get out
(1) Surprising physical observations, or
(2) Mathematical advances
Way (1) is what kicked off quantum mechanics. Way (2) is what kicked off Newtonian mechanics.
I see string theorists and loop quantum gravity people as working on (2). Their models are mathematically interesting and aren't totally understood from a mathematical perspective. But they're different enough that studying them may break the impasse.
I see (1) as largely limited by the budgets and technology needed to build things like particle accelerators and spacecraft.
For (2) you have to decide whether to only explore mathematics that defines physical reality, or whether to also allow exploration of non-physical systems. For example, you might explore a universe that is almost physical but has time machines. Restricting the search space to only physically realistic systems is a significant constraint, so there's a debate to be be had about how much weight to give it.
There are two obvious ways to get out
(1) Surprising physical observations, or
(2) Mathematical advances
Way (1) is what kicked off quantum mechanics. Way (2) is what kicked off Newtonian mechanics.
I see string theorists and loop quantum gravity people as working on (2). Their models are mathematically interesting and aren't totally understood from a mathematical perspective. But they're different enough that studying them may break the impasse.
I see (1) as largely limited by the budgets and technology needed to build things like particle accelerators and spacecraft.
For (2) you have to decide whether to only explore mathematics that defines physical reality, or whether to also allow exploration of non-physical systems. For example, you might explore a universe that is almost physical but has time machines. Restricting the search space to only physically realistic systems is a significant constraint, so there's a debate to be be had about how much weight to give it.