Yes and no. It really depends on what he meant by cool new things. Features for features’ sake is a waste of resources. The book “The Build trap” comes to mind. So if the customer doesn’t require it, why are you building it? The product is for the customer. But if he means to new products to grow the company, then yes. Keep innovating. Some products just don’t require or justify the cool new things.
It’s always a matter of what the customer needs and wants balanced against the business goals.