Despite the limitations apparently present in single chip/CPU systems, they can still provide an insane amount of performance if used properly. There are also many problems that are literally impossible to make faster or more correct than by simply running them on a single thread/processor/core/etc. There always will be forever and ever. This is not a "we lack the innovation" problem. It's an information-theoretic /…
Going back to "coding intensity" that used to be common in 8-bit processors to overcome bloatware is still open territory. One may themselves code with libraries efficiently but the libraries are very seldom very efficient.
This is still one of the better ways of "extending Moore's Law" - stop bloating code.
Architecture innovation is another.
Chiplets is probably the best physical/electronics way right now to continue the status quo of laziness.