I think maybe using the words "innovation" is misleading. For me, the game changers are the bits of kit/tech that have changed either the way i ride my bike, or the difficulty/phaff i need to endure to ride my bike in that way. For example:
1) LED lights. Of course we had lights before, but now, for about £30 you buy some LED ones, that last for a couple of hrs, keep working when it's raining, are small, compact and light, and reliable enough that you don't need to pack spare sets generally. No filament bulbs to pop at some inoportune moment and enough light to tackle a difficult off road track without killing oneself.
2) Dropper posts. Again, if you wanted to drop your seat a QR did that, but now i don't have to think about seat height in advance. Just barrel along, see what is, or just "might be" a tricky bit of trail, jab the button, seat down, in we go. No pre-emption required, just smooth flowy riding.
3) Light FS bikes. Now i simply don't have to choose, i can just grab my 28lb 160mm bike and ride it. It works just about as well on a canal tow path as riding down an Alp. Most of this is due to suspension geo advances that now control the system so much better. Potentially EI shocks will lift this yet another level higher.
4) Thin, light, breathable but waterproof jackets. A Biggy for me, you can now stash a jacket in the space of a can of coke (or less for the veyr expensive ones!). A jacket that is breathable enough to let you sweat without it feeling like a hot cheap hotel in manilla! Whilst the tech has come from climbing etc, the fit of these jackets is now bike tailored, allowing comfortable pedalling whilst wearing them.