HTML5, CSS3, Flash, videos. Technologies, the web is built on. They evolve and mature amazingly fast. Yet modern day browsers mostly fail to innovate and keep up in the user interface. Even with a tabbed interface, the multitude of pages open at once, the sheer number of pageviews easily overwhelm the user. Cumbersome bookmark managment leads to heaps of badly categorized links. They lay to rot in their folders forever. Only those with a strong will find anything. The history does not help to remember the sites we want, nor does it forget the sites we closed with the intention to forget about them.
You're right. The situation is not as grim. And that's only thanks to extensions. When the default (bare bones) browser does not satisfy your needs you go to find comfort in the hands of other desperate, but tech-savvy people. Those who tread over the same stones, but have the skills to mark the way around for other. But the extensions, as helpful as they are, sometimes make the browser creators thinks they don't need to innovate the user interface.
Yet someone is not content with the status quo. And so the Mozilla Design Challenge was born. Knowing when to ask for help is an advantage, not a weakness.