I would add that a sweeping statements will need a book to build a proper argument, not just a two page article.

Actually, stratch my statement about Watt getting rich. The source I read indicate that Watt was able to kept the price of his steam engine up by the virtue of being first even after the patent expiration. It is still true that he use legal forces to keep his many inventive competitors at bay. http://mises.org/story/3280

So he still have a competitive advantage after the fact that the patent expired. It is what people refer to as "first mover advantage".