There are plenty of things they could make. The better question is are there plenty of things we would buy?
I liked the old 1e version of Deities and Demigods (wonder what box or crawl space the old book is in, anyway...) but I never used it in a game. I was ten or twelve at the time and I thought it was cool for the mythology contained therein, not because I actually wanted to use any of it. With my choice of setting firmly set, I'm less likely to use the new version in a game for 3e.
I might get the Stronghold Builder's Guidebook only because my player character in one campaign is looking to build a base of operations... it's a major character goal. Other than that... for the campaigns I run I just make a decision based on the existing rules.
The Book of Challenges and Epic Level HB I'm a little ambivalent about... another couple of things I would probably only need to use on very rare occassions.
I'm having a hard time even getting excited over MMII. Another monster book. Whoo-hoo. Most of the foes I use are human/humanoid, anyway.
I think that we're reaching the saturation point for official products. At least, as a consumer I'm reaching the saturation point. I'm personally reaching the point where I could go on gaming for years and not use all the resources I've got. I think once I get my hands on Kenzer's Kalamar Player's Guide I'll be set for D&D rules resources for some time to come. Nothing else really strikes me as so appealing I must have it on release.
I'd really rather not see the return of the old TSR lineup with encyclopedias of spells and new optional rules seeming to come out every month.
There are several things they haven't touched on at WoTC, but that have been explored by several other d20 companies, such as seafaring and naval warfare. Obviously they need to continue making money, but I would really hate to see the sourcebooks and supplements take a further plunge into the trivial or add more and more optional rules to 3rd Edition, recreating some of the problems of 2nd Edition.
The level of excitement that was there prior to and in the year following the release of 3rd edition just isn't there for me anymore. I think they should focus on other games like CoC, WoT and SW. WoTC has gotten pretty good at creating new RPGs based on the d20 system, but I think that they need to slow things down when it comes to D&D before it gets old and they squeeze out all the fun.
More adventures would be a good idea. Although I don't personally buy a lot of modules, I'm not opposed to the idea. It's less of a hit to the wallet, doesn't add more optional rules or complicate things and there is always an audience for such things. I just haven't found any that they have done so far that excite me that much. With a little more variety, though, I'm sure that eventually they will create one that I will want to have, especially if they learn from other companies.