This whole discussion boils down to whether the 'big' ideas can be considered to come from software or not. If they only come from hardware, e.g. infrastructure/energy/poverty-changing, then sure they take longer to create, and have higher risk. But we are making progress on them.

On the software side there is of course big innovation, admittedly hard to quantify. The internet has changed the human experience in more profound ways than many physical innovations ever did.