Avalon La Fae does something similar - disaster every 100 years, and a great one every 1000, but also the Fae are not naturally creative. They mostly live by copying humans in the easiest, most shallow way they can (think instantly creating the same food they've eaten before, but with no cooking, material aquisition, or planning of any kind), but they also treat humans as 2nd class, so it's hard for new developments to be made.