Take a look at the tech boom for instance - it wouldn't have been possible without the incentive of private profit

On private property rights, you seem to misunderstand where the wealth is coming from. In your example, you are not making these cookies all by yourself, right? There are presumably hundreds, or even thousands, of workers doing the labor to produce these cookies, so why should you alone have sole control and ownership over the profits and production of all these peoples' labor? You are merely one person in an entire workplace of people whose labor produces these cookies and the profits this business generates, so to believe that you are somehow deserving of unelected control over the entire workplace and the decisions of potentially thousands of people, as well as the profits they produce, is ridiculously entitled and anti-democratic. By claiming sole ownership and control over this cookie business and all the profits it produces, you are blatantly stealing the profits of all those workers' labor for yourself. All workers deserve their democratic share over their own workplace and the profits they produce, because that's how a good society should be organized.

In fact, democratic public/worker ownership actually provides a better incentive for innovation, because workers under capitalist ownership do not have any ownership or control over their own labor, whereas workers under democratic ownership would be able to directly benefit from the products of their own labor. Where capitalist innovation only benefits the capitalists, democratic innovation directly benefits all.