This is the core problem of the current economy. Too many monopolies. In theory Pfizer should be able to innovate a lot due to their massive size as they are not afraid of failing and being poor + homeless, but all they do is lazy out and buy startups. What is the value of Pfizer except as a bank essentially? Same discussion can be made about many more S&P500 companies.
Coming first isn't always the best place to be, sometimes being the last to enter is also quite a good spot.