Counterpoint: the majority of it is not really innovation, but is instead it's just a rat race. The web doesn't need standards evolving at the speed of light,

Counterpoint: the majority of it is not really innovation, but is instead it's just a rat race. The web doesn't need standards evolving at the speed of light, it's only happening because Google's strategy with Chrome has always been to set a pace that others can't follow, not about designing things right.