Updateability is the defining advantage of software over pure hardware solutions. If you don't use the advantage then you are stuck with just all the disadvantages.
Some products with software continue to "live on" successfully and thrive, without updates. Think of a digital alarm clock who's goal was to help typical users to wake up on time most of the time. If you ship a product that does that and it isn't being updated, is the product really dying or doomed to failure?
No alarm clock will ever wake everyone up on time, but we can always strive to get closer to that goal if we chose to set that goal. An unreasonable goal could cause unnecessary bike shedding, etc.
But a simple pacemaker for the heart, the goal is closer to the idea of helping as many people as possible, rather than most. Hopefully we write good software and we go 15 years without needing an update. I think that is better than bad software that has to receive more updates. Which software is more "alive" and "thriving". Is the good software with no updates for 15 years really "dying" since it isn't "improving"? Again, thriving and improving shouldn't be conflated.
So, a product setting appropriate goals helps determine how much maintenance is actually necessary and some goals can be met without requiring any future maintenance. Other goals may benefit from frequent maintenance. Some products can thrive without improving. A product's goals determine's the importance of improvements.