Particularly in the context of washing machines, I find this a little hard to swallow. What constant innovation is needed here? The product is infrequently replaced, and mainly just needs to do the one thing it already does.
Sure you have changes - you end up with a few major variations like top- and side-loaders and all that. But the old style doesn't fall off the face of the earth. And companies have plenty of time to simply watch and imitate.