Do you define wasted as the damnation of a soul? Because IMHO, the mercy of Our Lord's Precious Blood is evidenced in the damned and the saved alike.
If God's mercy was bestowed on the damned, they would not be damned; they would be saved.
Salvation is not as convoluted as you make it out to be.
Was God's mercy on Judas when Christ said it would have been better for Judas never to have been born than to suffer the fate that was ahead for him?