I think perhaps people don't dig deep enough when they're looking for covers, so you get the same things covered over and over again and there are 'go-to' songwriters that people choose.
To actually get together and make a band record feels like a bit of a big deal, and that can be quite daunting when you're musicians.
Obviously the trouble with having a hit with something like a cover of a ballad, you attract a whole new set of listeners, which is great, but on the other hand they start to pigeonhole you a little bit.