RE: Simplicity?
This is definitely a well thought out question.
I personally feel we have traded one set of concerns for another in most aspects. I can't think of a single product that does not raise any concerns. Some products are very new and inventful, while others are a tweak of an existing product, improving on the overall design.
Also, think about all of the products that were actually invented years ago, but simply never caught on. The Cam 1/2 from Hoyt is a good example. Though it was invented some time ago, it never caught on until Hoyt "revolutionized" the system.
I think material advancements have come a long way in bow manufacturing. Though a lot of designs are innovative, most are simply confined to the restrictions of the materials being used. I'm sure they can go even further with design and materials, but then the prices would sky rocket well beyond the ridiculous amounts they are now.