I think much of it is caused by the way we work on problems. We work on individual problems that get more and more complex and demand an ever increasing entry hurdle to be able to have a meaningful conversation on the subject. We zoom into existing problems. Yet most of the fundamental breakthroughs were often in hindsight "trivial". Because very often what it needs is a new perspective that allows for the creation of much more efficient alternatives. True innovation.
Add to that the ever increasing time pressure and funding problem. Remember, Einstein was a patent clerk. Most people simply cant afford to invest their time into allowing themselves to think freely. I am confident we could get the genius rate back up with something like UBI.