I do not believe true innovation is a thing of the past. Innovation grows when research and create new things, study ideas, and expand. Given the size of the Universe, I'm pretty sure we have plenty of room for improvement. To assume innovation is dead is the same thing as assuming our race has reached it apex.
I do not believe innovation is a thing of the past. I believe there are great minds all across the world working on new innovative ideas in all different facets. It is human nature to improve processes and make things easier and better for our society. I believe technologies, like 3D printing, are proof that innovation is not dead.
Think about the things in your daily life that frustrate you. Your smartphone is being slow and it takes 20 seconds to load something? What humanity has accomplished and continues to innovate is amazing, we're going to be just like our parents in 20 years looking at everything around us and not understanding half of it.
True innovation is not a thing of the past. People everyday are coming up with newer and crazier ideas. They are creating things we would never think possible. They are making designs we have never seen or heard of before. People are creative and continue to let it flow and be innovative.
No, true innovation is not a thing of the past, because there are more products and gadgets created today than ever before in the history of the world. Innovation is continuing in the areas of technology, as well as humanitarian efforts and engineering in the third world. A person need only walk into an Apple store to see all of the things we didn't have even 5 years ago.