No, this is not a typo. Here is my take on the following:
One is happy with "new" products as long as they-
1) Do what they are designed to do.
2) Do those actions efficiently and without repeated, unexpected maintenance or repair.
3) Continue to perform under rigorous use when designed to do so.
4) Make you grateful for its existence in that it makes your life easier.
5) Are made with quality materials that do not erode or decay quickly
6) Make you happy with your purchase.
There was a time where this was not only not too much to ask for, but was expected and, in my opinion, is one of the major causes of slumping economies. Money being exchanged depends upon the value of goods. If I sell you a spectacularly tasty and good looking apple with no worms, you'll come back for more - so will your friends and their friends. As long as I continue to deliver these types of apples, I'll be set for life. In reverse, the current US auto industry are based on the long-term inadequacies of the labor, design and efficiency of the automobiles.
Because of the lack of good quality "new" our current society has been leaning towards the purchase of "old" for some time now. "Pre-war", "vintage" and "antique" are some of the sought out adjectives being used in searched for homes, musical instruments and furniture. These commodities were built to last, made with quality materials and designed to function and perform. Their builders had a purpose in mind.
Therefore, "out with the new, in with the old"