Lost means lost. Found means found. Here in the Lost (not wasteful or prodigal) Son story in Luke’s gospel the one was not lost turns out to be miserable and self-loving.
The fact that the lost son wasted (dapanao) his inheritance seems to have shaped our interpretation of the lesson. At best it shows how quickly we evaluate one another as undeserving, while the closing thought is rejoice and be glad.
Very often we neglect to put ourselves into the picture of the stories Yeshua told. When we do put ourselves into the narrative we choose the best light and most favourable situations.
It was fitting [for you] to celebrate and be glad, for this your brother was dead, and is alive; he was lost, and is found. Luke 15:32