There's plenty of evidence that Ferrari operates on the economics of scarcity, not innovation. Here's just one article from this year: https://medium.com/@moschovakiscapital/ferrari-at-332-the-wo...

Ferrari makes a ton of money per vehicle because there is a long line of wealthy elites waiting to buy a new tailored model. They are not known for innovation, in fact you have not provided any evidence to the contrary. They are even terrible at F1, having not one a title since 2008, despite having some of the best drivers racing for them. Yes these are different departments but the same culture.

Would you call Rolex an innovative brand? No one would, because they are a luxury watchmaker brand, who also happen to be one of the most valued brands in the industry.