Give credit where credit is due. Spiegel is digging deep, showing humility, and asking the right questions after Snap has been flailing for a long time. The crux of the issue is that they haven't launched anything fundamentally innovative and game-changing since the original Snapchat, which went insanely viral in the teen demographic. In this sense they are following a similar path as Bebo, where I worked before they…
original Snapchat was not fundamentally innovative and game-changing...
So yeah, although the innovation never progressed beyond a killer feature for some users, it was still... innovative.