Funnily, it does make a lot of sense within the current capitalist system to not be innovative.
Innovation usually means investing time/effort/money into something new and challenging without knowing the outcome. That is a huge risk for any company, especially the bigger they are, because corporations are systematically forced to produce revenue for their oligarch owners.
As such, it's easier and less risky for big corporations to only improve what often comes from state-run or state-subsidized institutions and then tout that as their own achievements to draw more investors, which then forces them to be un-innovative again in return because those investors want their money + extra back.
Socializing big corporations might actually work as innovation boost since it'd remove them out of that vicious cycle.