You're going to have to name examples where the working class actually controls the means of production - it can't actually be socialism otherwise, can it?

Granted there are many industries that don’t have good competition

Funny... it's almost as if capitalists talk about "competition" a lot to justify their parasitic existence - but in reality they absolutely seem to hate the idea of competition. Must be purely my imagination, though.

He bought real estate

In other words... nothing. Do you have any real examples of capitalists being anything other than parasites?

The USSR did have great amounts of innovation

The USSR allowed the innovation that suited the CPSU's interests. In the exact same way, the US only allows innovation that suits the interests of the ruling elites - that's why you can buy an expensive new smartphone every month but you can't buy a cheap lightbulb that will last you thirty years that is based on hundred-year-old technology. Humans do not require "incentivization* to innovate - in fact, capitalism's need to repress innovation that doesn't suit the interests of a capitalist elite is thoroughly understood.

It is crazy how the USSR didn’t implement any solution except rewarding innovation to drive innovation.

See the answer above.

I think that people also recognize that capitalism needs some good amount of regulation

The myth that you can "fix" capitalism through regulation is pure propaganda.

but it sure as shit better than any socialist or communist nation.

Nope. There are lots of people in the US that sure wishes they could have Cuba's healthcare system - and Cuba's healthcare system isn't even socialist nor communist.

If you’re gonna make enemies with the most powerful nation

The US is "most" at a lot of things - none of them are worth bragging about. And it has utterly failed to crush socialism even within it's own borders, never mind anywhere else in the world.