What happens when all the innovation makes life good enough?

I'm not a professional (nor a pessimist) by any means, but why would any society continue to innovate past a certain level of comfort? Anecdotally, I've noticed that more of my peers today prefer to achieve just enough financial success that allows them freedom over their time. And most prefer to spend that time (like most of us do) in comfort with their families, loved ones, etc. Innovating is hard, and it seems that the incentive (a huge accumulation of wealth) is no longer as attractive.

Apparently, the word on the street is that Europe is doomed. At one time, it was the center of the world. Now, are they the laziest of the bunch?

https://twitter.com/zebulgar/status/1681658911194243072

I plan to read The Great Stagnation by Tyler Cowen next, which may provide more color, but for now, I’ll be thinking about this a lot…

Particularly, is this a bad thing? Are Europeans at all concerned? Or are they at peace with the world they live in? My assumption is that the Luxembourgers don’t have much FOMO at all.

https://ourworldindata.org/grapher/gdp-vs-happiness?xScale=linear&time=earliest..2022