There's a place for both approaches. I agree with kiba that with video games (and websites, and lots of other software for that matter), novelty is weighted much too heavily.
Companies don't tend to polish them, though. Sure we have a few polished/polishing games for their genres: Half Life, Team Fortress, League of Legends, WoW; but, many companies just rehash sequels to make more and more of the same game.
