Apple has to remember that the thing they sell isn’t hardware but Software. True, M-series was actually revolutionary but it wouldn’t be if it ran Windows. Come for M1, stay for OSX.
There isn’t any room left for innovation in phone hardware but there doesn’t need to be. 5 different generations of iPhones looks classic in the same way 5 generations of Porsche 911 does!
But a phone is just a meaningless shell without its operating system. Apple need to be writing a new chapter with iOS and not just pilfering the last few Android features it doesn’t have. The reverse is also true of Google.
There isn’t a new WebOS or Windows Phone to come along and shake up the market again; that ship has sailed.