Similar tech has existed, but Sony never pushed it like MS has, so I consider this Microsoft trying to push something 'new' for the industry. The eye-toy didn't have this same push and dedication, which is why I consider it a new thing.
Regardless, I'm not arguing WHO is the innovator, just that people seem to jump on it and regard it as inherintly rubbish.
As for having AAA titles on a platform that is about a month old... well you gotta give it some time. Like I said, I don't think it's going to take over regular consoles anytime soon, but I do think there will be some really good games and some even better ideas and concepts to take away from it.