People say Apple doesn’t innovate anymore under Tim Apple but you see everyone wearing AirPods. Every celebrity, pundit and news anchor have used AirPods during the pandemic.
I think it's dangerous to backup innovation the way you have here, the airpods may be innovative, but Apple actually doesn't need to innovate exactly because of the reasons you suggest
Why doesn’t Apple need to innovate?
Because they have a reputation for being easy to use and tons of people are trapped in their ecosystem and will continue to buy their overpriced, privacy invading products because they don't want to learn anything else. Plus expensive stuff is a status symbol.