There are lots of products that are essentially exactly the same as they were years ago, which is great — change is often a bad thing for consumer products and tools. Typically the only value that innovative managers have in these companies is making the product incrementally cheaper and shittier. The value is that it makes room for quality competitors.
This sometimes produces waves of change (seen as painful and haphazard by the old staff), when new ways to run the company are invented to keep up with the competition. Then, with new stability, a new calcification phase comes, etc.
I work for a F500. The top brass of the company sincerely want us to move into new areas. So they just buy companies that are already innovating.
People recognize the problem of big companies trying to innovate. One solution is to create isolated innovation teams that function more like smaller companies. I work in one of those teams.
I think that large companies optimize for a fundamentally different outcome than smaller companies, like startups. Large companies became large by applying a successful business model, something that startups are still lacking. If you have a working business model and stable cashflow, any change is potentially dangerous and can take down the company. So in contrast to whatever the marketing material says, rigidity and inability to change is actually an asset for large companies. This means the more inflexibility is added to the organization (e.g. by imposing a Book of Procedures that can never be abolished, employing people with no real power to change anything, or self-selecting a staff which is, put blatantly, incompetent to change), the longer the organization keeps existing. Until the market changes fundamentally, that is.