Except that it's not focus over time, but accumulation of an abstract resource that you can then spend without investment of any effort or time on different things. It's pretty much the opposite of focus over time.
You focus over time building up points. If you have a crisis (rebels, stability drop) you may get distracted and lose focus - delaying the eventual success. If the distractions mean you don't get the original objective achieved, job done, I would say.
In addition to that, the things you buy with that resource are just derivatives of primary game mechanics: you invest an accumulated resource to get a lot of small things that add up over time. That is, your ruler's skills affect only how quickly your country can grow, but not in any very significant way how well it does right now. This runs counter to the initially stated design paradigm for monarch points that the skill of your rulers should affect how well your country does.
Consider the way monarchs influenced things in this time period. Building of what we now call "infrastructure" was not a thing, for governments (except purely military works). Government expenditure as a proportion of the whole economy was tiny, compared to today - and almost entirely either diplomatic (maintaining prestige) or military. Technology and business were supported via tax breaks and patronage. This did not actually create any advances in itself - it simply made advance more likely, in selected areas. Patronage generally did not mean simply giving money, either. It meant preferment for jobs and titles, awarding of government contracts and the like - in other words, channelling money spent for other purposes, not simple subsidisation. Monarchs didn't get down and dirty doing the actual development themselves (shudder at the thought!!), but encouraged those with talent to do so. If the monarch had at least a passing understanding of the relevant topic through reading and, perhaps, dabbling, that would help them a great deal in disbursing their patronage wisely. The features you describe seem to me to model this underlying mechanism pretty well.
You can solve most problems if you're willing to spend enough money but true solving actual problems with any realiable and efficient use of money takes time and effort but again EU4 doesn't show that improving infrastructure or technology costs any money at all. nada zip it's all magic that happens because the ruler somehow has pregenerated potential towards something happening (and that makes it even more ridicolous).
As I said, you can achieve quite a bit with money. You can get people to work for you, you can even get them to fight for you and you can most assuredly get them to lie to you. Getting them to believe you, or to love you, or to enlist their enthusiasm and mental focus in your service or that of your kingdom, however, are a lot more tricky. If you want to try with money - good luck, but be aware of the "getting them to lie to you" angle...
As I mentioned above, in this time period infrastructure and technology are not researched with the state's money. They are researched by private citizens in return for the fruits that noble or royal patronage and business profits may bring. As an example, in the search for a way to reliably calculate longitude the British government offered a reward of £10,000 for the first practically proven scheme. A single warship of the day cost a similar amount - it was a paltry sum by almost any measure and they even prevaricated for years over actually awarding it). The prizes for developing such a methodology were not limited to the state "reward", though. Commercial exploitation and patronage promised far greater rewards over time.
So, what does the MP allocation represent? Mostly picking bets in the form of people. Reorganisations and selection of leaders in administration. This is an extremely tricky operation, as I have personally experienced several times. Get it wrong and you just have to do it all over again. Change it when it was actually OK and you wipe out the progress you had previously made and alienate the people in the organisation in addition. Get a good tax revaluation done in the region by an honest and efficient officer and tax yields will go up. Reorganise recruitment organisations and spruce up barracks and uniforms and available military manpower will increase. None of this takes money in excess of what you were going to spend anyway - you are just focussing on spending it more effectively by putting good people (who you already employ - your advisors or their subordinate staff) onto the job of redesign or reorganisation.