EMPEROR IS NAKED

What really is the current state of String/M Theory/Theories?
And what practically it really means for the community of phycisists/universities?

IMHO:

How about we always judge current theories of phycists based on, currently and objectively, how much chance (as probability), they (still) have for being correct?
And what exactly, each range of probability of correctness, means for us practically?

I think second question is obviously easier to answer:

1) A new and promising theory of physics comes along then what to do?
New phycisists (or their percentage who really like challenges and taking risks), start studying it, theoretically, experimentally, observationally, by all means.
(Or existing phycisists, who are considering changing their area of expertise, and have similar character :-)

2) Current theoretical/experimental/observational results indicate, the theory, (very) unlikely to be correct then what to do?
Existing experts should continue working on it, by all means.
New phycisists (or ...), should choose studying that theory, with a distribution matching to its current (and objective) probability of correctness.

3) Current theoretical/experimental/observational results indicate, the theory, (very) likely to be correct then what to do?
Again, existing experts should continue working on it, by all means.
Again, new phycisists (or ...), should choose studying that theory, with a distribution matching to its current (and objective) probability of correctness.
(Obviously, in the cases of current state of Quantum Mechanics and Relativity, each definitely have .999... probability of correctness, each in their own domain/scale.)

At least ideally, whenever the current probability of correctness of a theory goes lower (because of new theoretical/experimental/observational results) then current percentage of new people choosing to study it also should go lower, and vice versa.

In the case of current state of String/M Theory/Theories/Frameworks, the following is my current personal view/judgement, as just a big fan of physics and nothing more:
I think theoretically or observationally there is really nothing to favor or disfavor String Theory.
And I think, the experimental results (mainly from LHC), directly disfavor Super Symmetry, and indirectly String Theory.
So I think what it practically means for the world of physics is number two above, unless new experimental/observational results change its probability of correctness in the future.

For the reader who read everything above:
My first idea for the title was a simple yet glorious one, "Theories Of Physics".
Later I changed it to "On Theories Of Physics".
Later I changed it again to "Descent of (String) Theory" :-)