What would you have liked to have seen? Mobile tech in general at the moment has hit a bit of a ceiling, Samsung have the same issue.
Assuming it works extremely well, I'd say biometrics is innovation to some degree, it's the first real and fast implementation of it on a phone, and it's something the vast majority of people would use.
The Motorola Atrix had a finger print scanner on the power button for passwords and such. It was replaced by face recognition for the razr/ICS, then by voice recognition in the Moto X.
Apple are just using it for a future secure wireless payment service. Maybe they'll succeed where all the other NFC stuff has failed, that's the real question.
Oh and what's the first thing to break on an iPhone? That pesky home button!
