No, that's not a valid argument.
Apple[Jobs] produced a steady stream of industry game changers - original iMac, iPod, iPhone, iPad, even the MacBook Air. Plus supporting ecosystems and software, including Siri and iCloud. And business relationships - with music companies, movie companies, phone carriers, podcast creators, and app devs.
Apple[Cook] has acquired a mountain of cash, but product development has followed a consistent and predictable faster+thinner+more_expensive path.
No game changers. Not one. Watch is the closest thing to a new class of products, but it seems to be an Ive vanity project rather than something that really scratches a user itch that users didn't even know they had - which was the classic Jobs USP. (And - ironically - Watch isn't obviously a design classic.)
No big new ecosystems. No big new business relationships - unless you count far-from-leading options like ApplePay. No game changer products. Just endless glacial refinement.
Which is fine for generating mountains of cash, especially when you're selling into new markets like China.
But you can only keep producing reruns for so long before you lose momentum. And buyer good will isn't infinite.
Luckily for Apple, Windows is still an incredibly terrible POS as an OS, so the motivation to switch isn't there. Nor is MS ever likely to do better for cultural reasons.
And Linux is - Linux.
So Apple can continue on this path for five more years. Maybe ten. But when the next new thing appears - quantum, bio, plain old distributed, whatever the hell it is - Apple will be buried by it.