| Sigh.
If you think there is no innovation anymore, you're willfully being ignorant.
We have multi phosphor LEDs with a CRI of 97. Better 5000k lamps than ever were available before. We have light bulbs that reach 210lm/w for where color rendering is not of great importance, at a cost even a private individual can afford them (before, only the biggest low pressure sodium lamps with zero color reproduction were able to get close to that level of efficiency).
We are seeing applications where separate red LED chips are integrated into the same LED component to improve the red reproduction and efficiency of white LEDs - rather than phosphor converting the blue light into red. We have violet pumped LEDs for better blue reproduction. We have moved away from the unreliable capacitive dropper LED drivers (ultra sensitive to voltage peaks) and now have linear and switching regulators that be used with dimmers and are much less sensitive to high frequency spikes on the mains.
The fact that you don't notice it in DIY stores does not mean there is no innovation. Retail always lags behind professional applications.
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