Partly. But some of the plethora of catridges comes down to improved metallurgy, powders ect.
Look at the 308 Winchester/7.62NATO. It is basically an improved 30-06. It made use of better powders, metals, and new design techniques for the case neck and shoulder.
Actually, the 300 Savage was an improved 30-06. Shorter catridge, better burning powders, better case shape and neck/shoulder design to take advantage of the newer at the time powders. In the 1920's, it pushed a 150gr bullet pretty close to the same as 30-06.
The 308 Winchester was an improvement on the Savage. A little length on the catridge, improved neck, and again 30 years newer on powder improvements. Now, it was really equal to 30-06 in the up to 150gr bullet weight range.
A lot of catridges evolved that way. All three still see use, even though ther are even newer improvements out there.
30-06 is still a totally useful cartridge. 300 Savage has faded a bit, but is an exceptional cartridge; it did two thing. It made a smaller sized cartridge on par with 30-06. It also, gave an incredible boost in lever action performance compared to that other 30 cal lever gun, the 30-30. 308 just upped the ante more.
Imagine the impact in the 1920's. The Savage 99 lever action was a strong action. And, they had a 30 cal catridge that was faster than the 30-30, and could use newer spire point bullets for better performance.
Here again though, you have the 30-30 that is still around today, even though it is a relatively low power catridge with flat nose bullets that have the ballist coefficient of a brick.
So there are three cartridges(30-06, 300 Savage, and 30-30) that have been updated or sigificantly improved upon. And, all of them still enjoy popularity.
In a word "sales". When velocity and accuracy are nearly identical, a new name on it will sell. The 100+ yr old 30-06 would kill things dead. The new super dooper .30 cals kills deader than dead. Barrel and action technology has improved making some of the new calibers more accurrate.