TL;DR An IP does not make a game, a game makes the IP.
I hate this discussion about IPs that internet seems obsessed with.
Some IPs are formulaic but it doesn't have to be that way.
Example Zelda: LoZ first game created the IP and had non-linear gameplay, AoL same IP completely different gameplay (still non-linear), LttP set the formula for Zelda for many years to come with linear gameplay this formula transfered to 3D-era. The IP seemed to be stuck in LttP formula for many years (some few exceptions). Then BotW dropped new formula leaning more towards LoZ but still so different that if you would do a texture swap you would not make the connection to the Zelda franchise.
Example Mario: From the beginning the IP has been a platformer, a boxing game, a golf game, a puzzle game, a racing game, a jRPG, a fighting game, a football game, a tennis game, a 4x game etc. Why a new IP for everything, it's the game play that makes the game not the IP.
I would even claim that Pokemon as an IP is fairly diverse even if the "main" games are very formulaic.
Of course Nintendo also has long lived IPs that are very formulaic, in example Metroid. But even that IP at least has a pinball game in its lineup :)
Nintendo is way better than for example Ubisoft that has a bunch of IPs but in recent years a lot of them play basically the same and just feel like a texture swap of each other.
