In legal and practical terms, the UK is still currently strongly compatible with the EU, despite Brexit. Another way to look at the situation: the UK is currently in an early fork stage of the codebase, and remains more-or-less compatible.
The biggest opportunity from Brexit -- which, strangely, may not only be available to the UK, but also to keen observers within the EU -- is the chance to introduce some local code changes without all the usual code review stages and interface negotiations.
Will everything that the UK does as a result create improvements? No: plenty of these attempted changes will fail -- some badly -- and hopefully we'll all learn from those mistakes. But there will certainly also be policy and procedural changes that result in unquestionable improvements that are re-usable elsewhere.
(disclaimer/context: I believe that Brexit was a mistake in economic and political terms, but that the UK could eventually rejoin the EU if-and/or-when the upsides are clearer to people, and that it's an opportunity to learn)