I was one of them, but I don't think IBM hasn't innovated, my contention is more that they have de-emphasised software and hardware in favour of services, and they've moved away from consumer-facing activity to be entirely B2B, and that there is an overall feeling of slow decline.

Their hardware advances are real, Power chips are still excellent and IBM's mainframes are pretty unique, but the niche for both of those seems less relevant over time and some of this stuff looks to me like hype-work to keep the name relevant while the leadership place ever more emphasis on enterprise services and consultancy.

Maybe I'm wrong, but they aren't a company that get mentioned in the same breath as Microsoft, Google, Nvidia or Apple, not any more.