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This is surely the correct answer and for the reason you give.
If we're honest (and informed - a big ask, here) then we should concede that capitalism has been generally good for our species. A quadrupling of human population at the same time as a doubling in longevity - the numbers don't lie and they perfectly track the victory of capitalism as the world's economic system. Leftists don't want to hear it, but it's clearly true.
But whatever this ideology did for humanity, it has been a complete disaster for all the other forms of life that we share our planet with. And that fact is going to catch up with us soon enough.
I think capitalism was a great and necessary thing to get humanity to it's current post-scarcity state. As you said, production and innovation were really aided by capitalism in the early days of man, but now that we have all the shit we need to survive, all it does is deprive those without.
I don't see how capitalism deprives people of anything. Surely that's a problem of wealth distribution, which is politics rather than economics.
But otherwise agreed.