Keeping it as simple as possible, there are certainly more-correct philosophies across such metrics as soundness of logic, reasoning, explanatory power, internal consistency, as well as the intellectual tributaries that follow and expand upon it.
Centuries of philosophical work are repeatedly refined, tested, contested, and expanded by subsequent thinkers. This interrogation of ideas leads to either strengthening or weakening certain schools. The effects can be seen in such topics as free will, materialism, dualism, ethics, political theory, epistemology, as well as the tracking of historical trends in what central ideas were under primary discussion, and when certain ideas were arguably considered "settled".
Within philosophy, it's often the case that accepting a certain argument as objectively better leads to digging deeper into the effects that ripple outward to other ideas an accepted better philosophy can inform and illuminate, often opening up new areas for philosophy to investigate that it hadn't before.