I wouldn't exactly say that Browning revolutionized the firearms business but there were certainly a lot of copies made of Browning products. I also wouldn't say that Browning took Borchart's idea and turned it into something people could shoot. Luger did that.
One thing Browning did do, however, was to make small automatic pistols popular in Europe. Browning designs manufactured by FN in .25 acp, .32 acp, .380 acp (Browning short) and 9mm Browning long were sold all over Europe and Asia and in large numbers, too. Many continued in service for decades, with some old models ending up replacing newer models when the newer guns developed problems of one sort or another, though not necessarily all related to the design of the gun. The Browning Model 1910 was manufactured for probably over 70 years. Those guns were also widely copied.
It is also interesting that his large auto, the .45 automatic, was not copied more until relatively recently. That may have had more to do with patent protection and the fact that it was manufactured in such large numbers in WWII by several manufacturers. Some were manufactured overseas but nothing like copies and derivities of his other designs.
In spite of the popularity of his designs, there were many manufacturers who had their own designs and never really copied Browning. Beretta is perhaps the best example. Others, like Walther, after producing their own original designs for many years, eventually made more "conventional" designs.
I think the subject of firearms designs, particularly of handguns, is fascinating and I look forward to new things. We don't always realize what progress there has been, either, since you can shoot ammunition that's been around for a hundred years. The Brown Bess flintlock musket was used well over a hundred years, too, but I doubt anyone got too nostalgic when they were converted to rifles and percussion caps.
I'd say that one of the least appreciated advances in the last hundred years has been in the weather proof finishes, probably beginning with Parkerizing, then stainless steel. From everything I've read, some current finishes are even better. Other improvements, like laminated wood stocks, were probably bypassed (by plastic, in the case of stocks) before they really caught on.
Much is little more than a case of marketing and I'm resisting the urge to buy a pink gun but I probably couldn't pass up a chance to get one in brick red with little duck heads on it. In other words, manufacturers and distributors (the invisible element in gun sales) are continually searching for an "un-met need" or "underserved" market where they can sell something. But between Colt and Davis on one hand and H&K and Taurus on the other, it's hard to imagine what they're missing, unless it's just something they can't do and make money on.
How about a real inexpensive .22 single-shot pistol? It's been done before but apparently there wasn't much of a market--or profit.