Have pioneers of innovation moved to private corporations now that they have capital that rivals academia? Private companies can reward innovators with more than just credentials.
Bell Labs, Xerox Parc, Google Brain, OpenAI, Tesla, SpaceX, ...
Granted, this isn't even across all fields as they are not all economic drivers.
Different times/cultures tend to put different personalities in charge, and that has a huge impact on what gets done. Overall I have a feeling the curious eccentrics are now out, and the charismatic corner cutters are in…
See David Hounshell's Science and Corporate Strategy https://www.worldcat.org/title/science-and-corporate-strateg...
My point is, you can make claims about Bell labs being semi private, but that doesn't explain why all the innovation happened at Bell Labs and not at some fully government run lab or the military. The government couldn't even keep up with them when they knew what to do, forget about the government actually initiating that kind of research.
In the last 50 years almost nothing has come out of government research. All innovation has occurred in the private sector, or privately owned research universities. At best, the government has succeeded in some cases where government funded academics managed to get private funding from industry.
Bell Labs and Xerox Parc are gone. OpenAI, Tesla and SpaceX are very different places, and Google has Alphabet that actually tries to be like those but fails. And I imagine that cutting funding from projects before they can mature is a large cause of that failure.