And most games today our just a rebuild of old and played out concepts with better graphics
And so are the other entertainment medium. Many movies follow the more than old schematics of the heroe's journey (or monomyth) already present in antic greek litterature. Try to compare Star wars, Harry potter, Eragon, and you'll see this is basicaly the same story with only a different context :)
Or even better in term of repetitiveness there is the marvel based movies (or super hero in general) How many spider-man movie there was? How many hulk? Batman? Avatar which is an exact copy of Pocahontas repalcing the native american by blue alien, and america by pandora. The entertainment industry is full of repetiveness, be it movie, series, music or anime/manga (I don't read enough to judge books) Video games are not the only one.
I can watch movies, TV box sets and read books, look at the same paintings and listen to the same music over and over again.
It's been now a long time that nearly each year I replay and complete the campaign of Dungeon Keeper. And it's a game from around 1998! Would play it again :)
Interesting question, but I'm sure there is nothing to fear for the future of the game industry :D