In software development this phrase, "Don't reinvent the wheel" is thrown out as an important mantra to follow. The main problem is that this gets thrown out there without looking at the wheel market. Clearly who ever said this doesn't make use of wheels. There are innovative wheels all over the place.
Do you drive a truck, car, tractor, or a wheel barrow? Guess what, someone determined that the old wheel wasn't good enough for those and invented a new one.
Just take a look at the Wikipedia page on the phrase. It is less about building the same thing and more about building something new with an understanding of the old.