Yes, but it doesn't have to reinvent itself fundamentally once a cohesive theme is established. The Star Wars, Indiana Jones, Batman and James Bond franchises all plundered genres initially (just like D&D), and have themes and cliches they return to again and again. You know what you want from them and what to expect.D&D was always about aping what was popular.
Compared to these, 4E makes D&D look confused and pandering with the latest implied setting, like it wants to be WoW, and hip and now, and has lost touch with it's own thematic imagery...the royal blood of the brand, if you like.
If you're not going to do that (offer up the brand's "royal blood" and in my opinion, dragonborn warlords in PHB1 is not doing that), then don't put D&D brand livery on the durned thing.
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