Is philosophy just idle talk? I think that there are definitely more parts of philosophy that have more practical value than others. For example, Epistemology, philosophy of science, Ethics, Political Philosophy, etc. would all be much more pragmatic and should continue to be studied.
However that's not to say that the other branches are not important at all. If we want to search for truth, then we can never discount anything.
Philosophy of mind, metaphysics, etc. can all be very useful and help us search for truth.
But no, philosophy in general is no mindless babble, since it is what got us stuff like science. And the claim that philosophy is mindless babble is also philosophy. There's no way around.