I agree, and I'd personally extend it to say the same about almost every other subscription-supported software product I've rented in the last 10 years.
From my perspective as a user, "innovation" broadly means changing my product to chase some other users who were previously reluctant to buy in when I did. Sometimes I'll get something beneficial myself, but the more likely outcome is that I'll be paying to see my interface cluttered with countless things I was content not having around and the specific UX details or features I did like massaged out through A/B tests focused on these later adopters.
A content subscription model generally makes sense for catalog-streaming products like Spotify, but the software subscription model is often ruinous to user experience for long-term subscribers.
Somehow the base functionality has been stuck in a one-step-forward-one-step-back loop for the past 5 years or so.
I don't care about your innovation. I haven't cared about a single new feature that's come out from Spotify in the last 5-7 years. I find myself listening to Spotify less than ever these days anyway. These prices are too much for me, so after ~10 years of premium Spotify, I'll be cancelling this month because I'm not getting enough value. I'll find other avenues of discovering new music.