I don't necessarily think that's why people aren't buying this fridge but those are reasons why new products can still be successful even when they're worse than the old ones.
Are you kidding? You must not live in the US.
People buy new phones despite the old one working. My phone is almost 6 years old. No one I know keeps phones around that long. Becoming rare to see anyone keep one for even 4 years.
I lived on cheap, used furniture. There's a glut of it, because people buy new furniture despite their old ones being just fine.[1]
People often change their cars even though they're not even 10 years old.
They change their shirts even though the old ones are not worn out.
And so on. There are not that many things people keep till they break down.
[1] They cost about 10% of a new one. Heck, do this experiment: Buy an expensive table/bed. Don't even assemble it. Immediately put it on the used market. Note how know one will buy it for even half the price. I have one that I can't sell for 20% of the price. Unless it's some fad item or office chair.
Do you think other cultures don't have consumerism? (they do). Or maybe other countries have old stuff more often?
I like cheap, used furniture. But I also understand that furniture wears out. I've had legs break, arms split, cushions lose comfort. Beds get lumpy. Finishes wear off. Drawers come apart and dovetail joints break. Some of it becomes unreliable or unsuited for daily use. Fine, keep your linens in that old dresser, but using it daily will hasten its end - that one drawer is barely together, after all.
Not to mention that some of these things are just not usable in modern society. An old desk might be pretty, but it wasn't designed with a computer in mind. Good luck fitting your great-grandmother's dining room table in your small dining room. It was made for 8, and you have a family of three. Beds with a metal boxspring built into the frame aren't as comfortable to sleep on as you might imagine and can be quite squeaky. Some old furniture just won't fit in your abode either - and boy, oh boy is some of it absolutely filthy.
Sometimes you can fix this stuff, if you have the time and space and equipment to do so. Many folks don't.
And of course lots of folks replace cars. In most places in the US, you can't survive without a vehicle. A vehicle that breaks down is a vehicle that can get you fired. It is much easier to keep up with an older car if you don't have to rely on it. And again, you still have issues with having to be able to have the time, space, and tools to work on it - and you might need to have enough strength.
And so on.
I expect there's some survivorship bias at play here.