No, not really. Hollywood produces many more films than it used to, and a greater deal of these are of lower quality than previously but the problem is not to be blamed on ideas. The profitability of continuing franchises is certainly an issue but it's not like new ideas are always a great thing; case in point putting aliens in an Indiana Jones film or the hilarious tragedy of a film that is Mutant Chronicles.
Hollywood has always taken it's inspiration from other sources (books, TV, comics, foreign films) and several academics have made the point that there is no such thing as a truly original story in terms of general plot (The Seven Basic Plots by Christopher Booker).
Several films in the last few years are truly stand out and will stand the test of time (No Country For Old Men (book), There Will Be Blood (book), The Dark Knight (70 year old characters), Munich (book), Sunshine [debatable but I thought it was one of the best cinema experiences I've had in a while] (original).
Compare this to some 'imaginative' recent films: Tropic Thunder (actually a great concept but no one will remember this film in 15 years), Kung Fu Panda (great fun but again, it's not going to last), etc etc.
Good films are good because they strike emotional cords, provide a thrilling plot or have interesting well-drawn characters. The sheer idea behind a project is not enough to sell it.