You don't need new zones to have new content. What's IN the zones can change, drastically (even without sandboxing). This has a carry-over effect to equipment - if zones/encounters are constantly changing, then it means you need different modifications on your gear to constantly have the 100% best setup for an encounter, which means players will constantly be seeking out a larger pool of gear to keep in their bank and face any given encounter with.
Also, actually, a lot of people don't like needing to change the look of their gear and are very happy with creating an individual look that they find most appealing and can use for years. Like if Bards could always wear Lambent armor, and just had a dozen different sets of Lambent armor with different stat mods, a lot of people would enjoy that the most.
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