It used to be that everyone had to maintain their own personal "library"- now this activity is relegated to cranks and luddites. The second order effect is a change in demand for personal information authoring/management/etc.
A small number of tools, like Scrivener, that may have been competitive in the 1980s, have a market today. The idea of an isolated, focused, non-networked writing environment, surviving like the crocodile.
I don't have a hypothesis for the lack of innovation in the spreadsheet space. The incentives are certainly there. Literally billions/trillions of dollars of assets are subjected to all kinds of spreadsheet risk. Yet that workflow persists, and small and large businesses that attempt to tackle it rise and fall by the wayside.