Meaningful innovation is extremely rare and becomes even more rare as a medium grows older. It's not something we can expect to happen regularly or often. Even when innovation occurs, just because a game has innovative qualities does not mean that it's a good game or that the innovation has any real positive impact on the medium at large. In most instances, improvements to well-established formulas result in superior experiences when compared to raw innovation.
It's really not something that concerns me overmuch. When it happens, it happens, and then I'll think about its relevance.
Now, that being said, If I could name something I want to see, it would be an RPG where you could finely tailor the battle-system and tweak it on the fly. Also, since so many FPS games seem to want to include platforming, I'd consider it incredibly innovative if someone could find a way to make it not lame.