Is it really necessary to create different iterations of essentially the same product over and over again until every niche in the market is covered?

I've been doing quite a bit of what I would called "quickfire" houseware product concepts for the past month or so. Why I decide to called it "quickfire" is because most of these projects are commission based, therefore, I'm more inclined to move the project from concept to shipped product as quickly as possible so that I can get rewarded quicker and more frequent. In a way, I see that this scenario is like the part in The Inconvenient Truth where Al Gore was illustrating how people have this tendency to weigh "goldbars" more than the planet Earth. I know that this is an unhealthy practice for industrial designers as it really makes the use of the Earth's precious resources into a casual practice -- all just to satisfy human being's insatiable desire for a better object and most of all, money. So this begs the question: Is it really necessary to create different iterations of essentially the same product over and over again until every niche in the market is covered? My best answer is to make sure that I do what I can to make sure that what I design is as close to "the ideal" as possible so that there will be less desire for people to have to ever buy or design a better iteration of that same product again in the future. To do that, I felt that keeping the product down to its essential elements is important. As an industrial designer, I felt less compelled to design something when I see that the market is already saturated with already well designed products.