They come out with new releases all the time. Brick and mortar stores just don't always carry them. In the past year Target and Best Buy stopped. Here's a list of physical media that came out this week: https://www.blu-ray.com/news/?id=36930

There are still DVDs and Blurays being made for new movies. Some movies are 100% digital, but in my experience they tend to be the ones that the streaming platforms produce themselves and they have an interest in keeping people on their service.

But most other movies still get dvds and blurays made and are still sold in stores.

I guess it's not technically a new movie, but I just bought the 4k blu ray rerelease of Dark City that came out this year. So there are still some new releases in the format.