To a certain extent I think that is true. The Steve Jobs innovations came at at time when personal, portable electronics that could connect to the Internet were in their infancy. Looking back, the evolution from iPod to iPad seems obvious. Give Jobs credit - he saw that evolution looking forward from the iPod.
But what does an iPad evolve to? It is not obvious? It will be mostly refinement and not innovation. Faster processing, lower price, better optics, larger storage, longer battery life. The basic functionality is portable connectivity. That was the big step. There aren't any steps of that size left that I can see.
Nevertheless, Jobs developed a lot of talent in his organization and I still have faith that there is innovation in Apple's future. It just may not be limited to portable widgets. Time will tell.
Right now I have three products. I have a laptop, a smartphone and tablet. The next step is to integrate these three functions into one portable product, that shares one connection, so I can meet all my needs at a reduced cost.
Apple does not want to do that, because they want to sell me an iPod, an iPhone, and iPad and a MacBook Air. But as soon as somebody figures out how I can do all of these things at half the price, I'm all over that.
Flexibility? An ipad that looks like a piece of paper? We'll need new tech for batteries for that I expect.