Reminder: If this is unpopular, then upvote!
Every argument against socialism can be dismantled and solved somehow. It just requires that you dream, imagine a better world. That you are a little idealistic and optimistic.
If you think it would reduce innovation: State funded startups, requirement is that the company is democratically controlled by the employees, and that the employees own the company, or that the state owns 49% of it. Or some other split between state, founder and employees.
If you think this is a bad idea, then maybe you can imagine something else? Or some middle ground between today’s brutal capitalist solution and the thing I proposed?
People would just use up all the resources even if they don’t need it. Okay, then we limit the consumption per person. Or we still have some money, and you buy the luxuries with that money. So that people still have to prioritize.
Also, if you think a planned economy is bad, what would you call the logistics and planning of Amazon, or even Temu (Just the logistics and planning part, not quality)? It is possible to plan for needs. You just start with making the basic services free, and gradually adds more options of products and services. You track trends in consumption and increase or decrease based on demand.
Socialism or communism isn’t a finished ideology, we don’t have a template. Establishing systems would take creativity and thorough planning. So yours and everyone else’s imagination would shape that future.
On the topic of innovation you kinda missed the biggest point of all: Every major technological development in the last 100 years has been developed with public funds. Capitalism doesn’t breed innovation, it patents and privatizes innovation for the purpose of greater exploitation.