For the knowledge-workers/digital economy i think you're on the right track Guy. Don't however forget the physical world where houses get built, rivers are dammed, electrical power generated (and distributed), meals cooked, injuries treated, etc etc etc
Not saying innovation doesn't or can't occur in those domains because it clearly does. But there is value in work (as we all ack), and plenty of that work isn't inventive or new or exciting .. just necessary and important and unending :-)