I believe as the software industry increases it's understanding of architectural design that we will learn to add most types of features, in a systematically less costly way. Making them easier to maintain,update, and detangle from the rest of the software.
In fact, I am finding that we are just now arriving at that point with functional languages. Not that functional is our savior, but it does provide a good set of tools for this particular problem.
To wrap this up, I don't think software needs less code and less features. I think it needs better tools and methodologies with which to deal with creating, updating, and maintaining features and complexity.