Do you think that the influence that the "profit motive" has on driving innovation is often overstated?

Ad_Quid_Orator
I've even seen so many people on the far right (especially Libertarian capitalists) claim it's the only thing that drives innovation. But what they fail to realize is that just because they're solely motivated by greed doesn't mean that everyone else is.
https://hbr.org/2011/11/people-dont-need-a-profit-motive-to-innovate

I'm not saying it's not a driver, it's just not as strong as a lot of people realize.
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Patents in the US over time (note the difference in the years when there was a Republican vs Democrat in the Oval Office):
patentlyo.com/.../061918_0305_USPatentNo1.png
Do you think that the influence that the "profit motive" has on driving innovation is often overstated?
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