> But I have wondered why one of these companies with billions of dollars to burn hasn't tried to create something new as a strategic initiative.

See Google's Fuschia: https://en.wikipedia.org/wiki/Fuchsia_(operating_system)

> But the long term value could potentially be astronomical.

Such as what?

> Such as what?

Historically? The internet, the concept of a graphical user interface, the mouse, the smartphone, the LCD display, the laser printer...

It's about clever people trying weird stuff, and occasionally ending up with a world-changing idea. Asking for examples of to-be-discovered innovations is, by definition, an impossibility.