Certainly things have changed, but no it's not at the pace of things like Triathlon / Mountain Biking / Gravel-Allroad, etc.
The thing is, manufacturers don't sell many track bikes. How many Cervelo T4's get sold vs. P2/3/5/x's? Or Felt TK1's vs. Felt DA/IA's? Probably very, very few and the % has to be insanely low. And in general, these advancements in track bikes are trickle down from road.
On the other side of the coin... how many triathletes (for example) buy the newest, hottest ~$2-5k bike, do their bucket list Ironman, then sell it / let it sit in the basement. Compare that to a trackie...who generally is in it for the long haul. How many guys show up to the local track on a bike they've owned for years and years? Or on disc wheels from the 90's? If you see that at a triathlon, it's generally from someone who is on a budget.
It's sort of an Ouroboros... guys aren't buying new bikes every year - manufacturers aren't making money hand over fist - no point in spending tons of money of R&D on a new bike. It's why something like an early model Felt TK1 is still considered high end, but a Felt DA from similar generation is basically worthless, the two of which are very, very similar bikes.
It's interesting (to me) coming from Triathlon years ago seeing the differences.