Capitalism breeds so much innovation that the fossil fuel industry spends billions on propaganda and needs more billions to keep functioning even though they receive billions in profit. It breeds so much innovation that the industry has now know for decades that their products cause permanent damage to the environment and instead of developing a more climate friendly material they doubled down and lobbied, corrupted or outright killed everyone that tried to go against them. All in the name of profit.
Capitalism breeds so much innovation that 10 companies own the vast majority of what you eat, read and watch. It breeds so much innovation that ten people own as much as billions of other people combined.
So. Much. Innovation.