Converting that R&D into actual products and services, I'd wager, is quite difficult without a profit incentive. It's like the difference between having a great idea for a startup and actually turning it into a functioning company.
Without invoking too many absolutes, there's so much bullshit involved in the latter that people doing the former aren't willing to put up with. It's mostly two different kinds of people with two different skillsets.
Doesn't capitalism either directly or indirectly fund that academic research? When I was in a university lab, all of my work was funded by private companies
A huge amount of R&D happens in academia which isn't capitalism; but then is monetised by capitalism (but doesn't reinvest it back into the academia)