Let's also not forget about what the new stadium mean for the Jets fans and the Bills fans. More revenue for the Jets will allow them to have richer signing bonuses and strengthen their ability to attract FAs over us. Also for the Jets fans this means significantly higher ticket prices, no real parking, no tailgaiting, crappier season tickets, etc. I am not sure who really benefits here besides the owner and Jets fans living on Manhattan. For Jets fans in most areas, it will be more difficult to go to a game.
The state had much more important things to spend its money on and it has things they could get a much better return on investment from. If they are going to build them a stadium, at least find a more cost-effective way to do so.