What happens to the corn after fermentation?
answer: cattle feed, just like it would have been if it had not been fermented.
If your argument is that ethanol isn't worth the expense to produce for fuel, there is some validity to that argument. However, remember the Federal Government that people of the left absolutely love, are the ones who created the incentives which caused the expansion of ethanol producing plants. It's also Gov't that created the subsidies and land set-aside programs.