There’s actually a lot of reasons for Giovanni to keep these guys around. Like, they’re really bad at actual crime and basically never turn a profit, so he was understandably pissed at them for a lot of the first couple seasons and revoked their funding a few times, but then? They started to save the world. Every time Ash got into some seriously apocalyptic shit, Team Rocket was there to back him up. And they have been instrumental in society/the world/the fabric of spacetime remaining intact at least a dozen times by now.
Now, Giovanni is not a good person, but he is a practical man. You cannot run a profitable criminal empire when everybody is dead or money has no meaning. And ever since MewTwo escaped there’s approximately fuck all he can do to stop most of the forces intent on demolishing the planet he does business on and, by extension, his business. But all the evidence suggests that if he continues to supply these couple losers with fresh hot air balloons and giant vacuum cleaners every few weeks and then leaves them to do whatever stupid shit they’re doing, the world will remain safe for years to come. And he may not have any clue as to how or why this works, but you do not get to be in control of the most powerful criminal organization in the world by questioning results.
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