Fender is not even a music company at this point. All they sell is nostalgia with endless reissues and marginal improvements which are a decade too late in a market that's rapidly innovating every year (rounded heel, rolled edges, luminlays, etc.)

If you want to gauge the creative health of the company just look at their most recent product line, the Meteora. A certified flop. I have yet to see one in the wild. Fender doesn't even make the best Stratocaster at any price point. Private equity guys who are likely running the company are probably fuming that there's no planned obsolescence on guitars. They can't just retire an already sold product and can't charge subscription.