Having been watching the world of bass for over thirty years, I feel qualified to state that there are always innovations and there are always new things happening. What is interesting is the direction of travel in terms of WHERE those innovations can be found. A lot of new ideas are difficult to access in the mainstream as 'innovation' is, more than ever, a niche market. The 'faster, harder, longer' brigade are always there; I call them 'the jugglers', making more and more noise with different techniques, slapping, tapping with increasingly complex patterns, different parts of the body etc etc. It sometimes feels like a bit of freak show (the guy who dresses as a schoolgirl etc) but there are a lot of people with interesting ideas that are grafting away in the corners of the internet or in genres that seldom cross anyone's path accidentally.
I think every instrument has aperiod where the innovations are spectacular and fast paced but, as things move forward, the innovations become more nuanced and subtle. What interests me at the momemnt is where the bass is going to find itself in terms of it's use by composers. The whizzy playing is starting to eat itself (I can't watch bass soloists who are just being clever for the sake of impressing other bass players - it is so utterly futile and obvious to the listener. Clever but no artistic merit. What we need is beautiful and in context.