I'm going to pitch my oar in on this. I'm of the view that people have only so much creativity in them. Some have a little, some have a lot, some seem to have endless amounts of it, but there is an actual limit. Writing, as with any other form of artistic expression, use it up. And when it's gone, it's gone.
The act of writing is separate from the creativity involved. One can have the writing ability, but have run out of creativity, leaving a "hack" writer. Also, the act of creating a "new" work often gets stopped by doing a series of books or stories on the same character/universe. It becomes so self-limiting that the results are "hack/pulp".
In addition, like any other task in life, after a certain point it gets boring. As the interest wanes, so does the creativity. This becomes a chicken-or-egg situation - did the waning of creativity cause the loss of interest, or did the losss of interest cause the wane of creativity.
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