The actual problem is if you don’t add new features, there’s nothing for people to do beyond maintenance and you aren’t going to keep good developers to only stick around for that.
So your option is new features or a new app entirely, but coming up with other good apps isn’t easy and is a huge risk.
So if you actually did good market research and spoke to users, you could find new features to add.
Beyond a tiny company or sole developer, it doesn’t really work.