I know that gets tossed around a lot, but it’s not indubitably true.
For example, soviet Russian rocketry was unambiguously better than American rocketry on a design basis. There are, of course, other examples.
The primary reason you see “innovation” in consumerist economies is because those economies survive on churn. In order to get you to buy another car in 5 years, they have to deliberately insert components with “planned obsolescence” into your car or create a new car that appears to be “new and improved” (although how many of us think cars from 15 years ago were more enduring? raises hand).
The soviet car industry, on the other hand, wanted to devote state resources to something other than keeping you in a new car. That’s one of the reasons you see a surprisingly large number of those ugly, boxy, featureless soviet-era Ladas still driving around in various media depicting Russian roadways today.
To the heart of the matter; there are oceans of philosophers, political scientists, environmentalists and economists who feel that consumerist economy is more consumptive than this planet can sustain on an indefinite basis. While consumerism pleases your individual wants more, it may contribute more rapidly to creating a planet that may someday be uninhabitable for the species on the whole.
But who cares, right? I really want that new iphone.