I think of the air raid as a high-variance high-reward offense. You're going to have more points overall, but you're also going to have more 3-and-outs. Further, it wasn't really a structural or schematic change that much beyond what was already seen. It was an extension or existing passing concepts, just taken to their extremes.
I think of the read option / veer / inverted veer / etc as a synthesis of multiple offensive concepts into something that was truly harder to defend than any offense beforehand. The triple option is hard to defend, but it's a run-first mentality. The air raid forces you to defend a lot of space, but it's primarily a pass-first offense. The run and shoot was sort of an "option" offense in that it keyed on defensive alignment. The read option, especially as it's expanded into RPO, is basically an option offense that is no longer run-first. It's basically a synthesis of all of those into a single cohesive unit that--when run properly--means the defense is always wrong.
It seems like it's a much more meaningful/impactful change than air raid.