most or all of this innovation has taken place on Ethereum

This is completely false.

1. There’s not even 1 design on Ethereum that hasn’t existed prior to Ethereum launch. Their lack of knowledge and taking credit for others ideas is to blame. dex, tokens, cdp, nft, aliases — had all this in 2014.
2. Ethereum is not capable of ANY defi since it’s incentives are centrally premined and thus centrally controlled. This is why all technically literate and honest developers avoid Ethereum at all costs not to promote what is quite literally deception for profit i.e. scam. There is 0 DeFi on Ethereum. Zero. It’s not a cryptocurrency, it’s not an altcoin, it’s only a scam.