That can cut both ways.
On the one hand, there are bands like Radiohead that don't do new records that often, and I often wish they would, but when they do release one, it just feels very special.
On the other hand, as a Neal Morse junkie, I sometimes marvel at how lucky we are to have gotten so much music out of him over the last 25 years (6 Spock's, 4 Transatlantic, 3 Flying Colors, 12 solo albums that I own, 3 Neal Morse Band), yet they come out with such frequency that they have the tendency to not feel as special because of that "Oh, another new one" feeling.
So yeah, it can certainly cut both ways, in both scenarios.