However, Apple is certainly not innovating like they were when Steve was around and the market itself, in particular the smartphone market, is becoming very mature - smartphones can only get so small, thin and fast before they reach an apex. And think of the iPhone in relation to the Porsche 911. It's more or less the same car for the past 50 years. Every 2-3 years Porsche makes it better. It works for them, the consumer, the brand and the legacy. I'm not sure why some people were expecting a Phone in the i5 that would make them breakfast but it's a better product than already great product in the 5.
At this point, Apple is such a massive company lead by not a visionary, but a supply chain genius in Tim Cook.
Ive leads design, but Cook has the final say. Forstall and the iOS team don't really care to shift much and take risk in exciting new features (after all, why take risk, if it ain't broke, don't fix it). That's why there are barely any new and groundbreaking features in iOS 6 vs. 5 (BS on your "200 new features" - nothing but minor tweaks) Do not disturb? Come on. It's nice but not a keynote slide.
I LOVE Apple products, I used to destroy my eyes on Apple IIs back in the day and have always loved what they do. I've followed (and had) most every product they've launched. I still have a Newton somewhere and once in a while play Sim City on OS 9 classic like a super-nerd.
I also think consumerism expects A LOT from this company. When Steve was on stage announcing products and wowing audiences, there was innovation, risks, big bets were being placed on products - now, the empire just runs, like a conveyor belt. Every year, a minor upgrade. It works. It sells. It's fine. They're not losing their way, they are just becoming a part of the status quo. They're not challenging anything. At least in the last year or so. Leadership is strong but they're going in a straight line. Calculated moves.
You can't blame them - this is a massive public company and one mistake will lead to an uproar. The question is - will Apple's biggest mistake be not taking a risk and innovating.
Remember, even the Roman Empire fell.