It's hard to make this point without going into all aspects of socialist thought. However, in basic, the reason most people produce now is to have enough to buy food and housing. The incentive for people to do above and beyond is to get wealthy for a big payout of some sort. However, while that does incentivize entrepreneurship, I think it's hard to argue that most of the ideas that come out of those efforts are socially beneficial.

I would argue it would actually require relatively little work in order to provide a high quality of basic necessities to all people (food, housing, healthcare), which would allow people to spend more time focusing on building out things that would be beneficial for society.