There are lots of new games in that case, even if the characters are same, the gameplay and / or story isn't always the same. For instance, take the current Yoshi, Pokopia, Donkey Kong Bananza, Tears of the Kingdom, Fire Emblem, Metroid Prime 4, Xenoblade Chronicles 3, not to mention upcoming Splatoon Raiders, Xenoblade Genesis. They have also been releasing new entries in non-story games like Mario Party, Rhythm Heaven, Switch Sports etc.

Of course, nothing wrong with it if these games don't suit your taste, but saying that Nintendo isn't making anything new is far from the truth though.