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The issue with this theory is that there is no obvious way to have both deep interoperability between apps as well as innovation.

Interoperability is a contract,and that contract will slow down product evolution and lead to worse consumer products.

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Maybe it's time we decide what's better for us in the long term, and accept slower innovation?

That's certainly not true. Interoperability for basic features such as text, photos, videos, posts and comments doesn't mean apps are not free to add more features. Also, having an extendable framework will easily account for this

some form of interoperability is already happening for some of those data types (or at least starting with portability). See the Data Transfer Initiative (dti.org)

The issue is that forced interoperability will lead to platforms creating an interoperable (and less fully-featured) version of their app to suit the regulations.

I do think that interop is important, but I think it is a harder problem than most people think.

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