This is a valid point.

Are there still regularly ground-breaking innovations (which ones e.g. in the last decade) coming out of the same lab today, whatever its owner or name?

It's more difficult to innovate today on a similar scale, or with similar impact. It also seems that big budgets don't really help.

Graphene chips are an insanely exciting (hypothetical) technology. A friend of mine predicted in 2010 that these chips will dominate the market in 5 years' time. As of 2025 we can barely make the semiconductors.

Apple makes chips that have both excellent performance per watt, and overall great performance, but they make small generational jumps.

On the other hand, startups, or otherwise small-but-brilliant teams can still produce cool new stuff. The KDE team built KHTML, which was later forked into Webkit by three guys at Apple.

Paxos was founded on theoretical work of three guys.

Brin & Page made Google. In the era of big & expensive iron, the innovation was to use cheap, generic, but distributed compute power, and compensate for hardware failures in software. This resulted in cheaper, more reliable, and more performant solutions.

But yeah, most of the "moonshot factories" just failed to deliver anything interesting. Maybe you need constraints, market pressure?