To be fair, the failings there had to do with the source of wealth being natural resources, rather than innovation per se. I'd also add Russia and Brazil to that list, but there are others. See https://en.m.wikipedia.org/wiki/Resource_curse

Personally, I think it's the difference in mentality between lottery winners and builders of successful products (who often work within difficult constraints and have to become very good at problem solving to succeed). There's a reason why lottery winners do not typically compound their success.