sure it is. "mature" markets are only interesting for large moneyed entities to try to tweak things and squeeze .01% more profit out of a service/process/product.

innovation is risky and rewards accordingly.

Ycombinator app-startups are low-hanging-fruit with marginal innovation and marginal risk => it ain't hardware, and it's just webservices and a few React devs...

SpaceX and DARPA and ARPA = our tax dollars.