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Those are all excellent examples of the main reason why innovation can not be done in established businesses: the fear of cannibalizing the cash cow will stifle any real innovation.

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Bell Labs is a counterexample to what you said. It developed the first transistor, photovoltaic cell, fiberiptic, lasers, cctv and some other things. Oh, and cellphones of course.

Ditto Xerox Parc and modern user interfaces, ethernet and and laser printers.

Agreed, it wiuld be more accurate to say it is not possible in companies that are optimizing finances short-term. Bell invested a ton of money with the hope it would bring results long term. I have yet to see a company's board authorizing that now...

Was the Playstation not revolutionary?

I don't think so, at least not in any technical aspect. Pretty much everything about the tech was a logical extension of industry trends. It began life as a CD-ROM add-on for the SNES similar to Sega's SegaCD for the Genesis/MegaDrive. Outside the technology, the low license cost and relative ease of developing for it built a sizeable and varied library of games, which I think was a major contributor to its success, but neither of those things strike me as particularly revolutionary.

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