You bring up an excellent point. Yes indeed it is about innovation.
With the introduction of the M1, we are however now coming to a point of great importance or concern in the world of computing which is: going forward today as users, consumers and developers, what will the computing landscape look like 5 or 10 years from now? Because we are now at a crossroads. And our choices of platform today will no doubt shape and affect the computing platforms and landscape of tomorrow.
A case in point is hardware support and software support and development. If you are a software or hardware developer who have traditionally relied on say an x86 platform for a living, unless you rely on the Apple ecosystem you may be in for a rude awakening in a few years time (if the market has shifted towards using ARM on desktop). The problem isn't as simple as just having Microsoft Windows, Linux or macOS - but that of choice and whether that platform you've chosen will be supported. Firstly as Apple is transitioning towards ASi, there's going to no doubt be less people in the market able to work with x86 (unless they can afford to use/support two or more platforms). Think of games development and the dilemma programmers now face of having to choose between supporting ASi/ARM or x86, AMD and/or Nvidia, and macOS/Windows/Linux/Android/PS5/XSX/Switch. Apple isn't a great games platform (nor are they great PC games development supporters, now that they've ousted Nvidia from macOS and upset partner Epic who owns Unreal Engine). Then there's Intel with their new Alder Lake/Meteor Lake architectures, which actually marks a departure from x86. If the latest reports on their chips is to be seen, Alder Lake could be troublesome for anyone running x86 legacy software or platforms (regardless if they use Windows or not). The x86 DRM software recognition issue was mentioned recently as a problem for Alder Lake chips (particularly if you run older apps or games that aren't patched), but who knows what else it could affect? And with Rocket Lake being the last possible genuine Intel x86 platform produced (something which Intel may phase out at some point), users wanting to stick with x86 for the next few years down the line may have to go with either that and Ice Lake/Comet Lake or AMD Ryzen/Epyc/Threadripper instead. Then theres also word of universities and research labs supposedly moving towards RISC-V platforms because Apple is not interested in supporting x86 and Nvidia's CUDA (which they did more than 5 years ago). It all makes the computing market look rather fragmented, and will no doubt force individuals and companies who invest in software and hardware to scrutinise and evaluate their future purchases more closely.
Personally I would like to stick with using x86 as long as possible because that is what use and I prefer. But the specs and efficiencies gained from M1 are not to be sniffed at. I know a good handful of creative professionals in my industry would no doubt jump over to M1 Pro or M1 Max right now because it totally fits their requirements. As a photographer or director they'd shoot high-end quality HD/4K ads or commercials, do graphics, photo and/or video editing, do move around a lot and are based practically anywhere. The new MBP fits the bill for them, but maybe not so for say PC games/Windows software developers.