Yes. To me there's two waves that hit a wall.

1. p2p protocols. At the height of the file sharing craze, there was a real sense that we could leverage the internet as a big hive mind. Media companies freaked out a sued with every toll they could, which pushed all the innovation to the cloud where centralized policies were pitched as easier. So we've been pulled in the direction of cloud since then, but at least have a lot of comp sci on how to build world scale p2p networks.

2). Blockchain, which is dominated by really inefficient distributed protocols, but it focused on how to prevent tampering in a distributed environment. That's huge, because in the first wave, there was no solid way to prevent poisoning the network with bad data (also a tactic media companies used). But, this wave has hit a wall because the tech has been used predominantly for classic scams, with people losing billions of dollars world wide. The hasn't played out, but there's a real risk regulation comes in because we can have a shadow finance system that can tank the economy. And I suspect it's going to encourage centralization all over again.

A different thought exercise is what happens after this. Communication and trust are somewhat solved, but there are properties of a centralized system we keep getting yanked back to. That gap is the next wave of innovation imo