Capitalism is good at driving down prices for consumer goods, also great at extracting rents from essentials (housing, medicine, education, etc). You gain on trinkets and lose on the things that make life worth living.

Of course, competition leading to near-zero profits means most competitors collapse, and the remnants get bought up by monopolists or oligopolists who then become rent extractors.

The technology was fundamentally developed with government grants to universities, or corporate labs like Bell Labs that were funded by a legal mandate on its parent corporation. Capitalists can only develop products that are basically ready for market, their margins are thin and planning horizons can only survive about 5 years usually. Their main power is throwing oodles of money at something ready to go and scaling it.

Edit: I will be slightly more charitable and note that capitalist companies can also do incremental research if there is a gentle and obvious hill to climb. Sometimes people do make crazy bets and they pay off, but that's more the exception, in America the dominant driver of technological innovation is government funded research supplied by capitalist scaled technologies (i.e. you research the next paradigm in the lab and purchase e.g. pre-existing computing resources from a company).