Wrong. PS5 could use all existing PS4 techs just turn them up to 11 and still will advance game visuals to new heights. Just look at this.Without new stuff there would be little to no progress. Someone who only does something that has already been done may be good but not the best. And it is even unwise if solved problems are solved again.
Inventing new tech sure is important but that's only one part of advancing the graphics. There is a delicate balancing act here, sure you can compare individual techniques but for what people would normally refer to as the "Best" is the overall presentation. And that has got a lot to do with smart implementation, resource distribution, tradeoffs and whatnot. Having a couple of new techniques means jack when everything else is mediocre or lacking.