If you ask me, Litecoin squandered it's 2nd place position for far too long.
There is not much innovation for Litecoin for very long time.
but there is a lot of innovation for bitcoin? your sentence is wrong, at least the word "innovation" is misused.
Maybe the word "innovation" is misused here. But I do not see much difference between LTC and BTC except for block time and mining algorithm. There is not much work around LTC at the moment.