That sums it up imho, but it can also go the other way around where the "experienced" management hampers any innovative products from being unleashed at all. I guess there just needs to be a good balance between the two, which is a tough item in itself.
When you have too many "fresh" yet inexperienced people you get: "Hey dude, look at this program I created that will give you the precise location of the sun when someone searches for weather....Awesome, let's put that in beta and add it into the results right away!", than something more useful. Some experienced personnel would say,"Yeah yeah that's great BUT LOOK, Yahoo and Ask Jeeves are doing this, we need to jump on the ball." There are times when these types of scenarios appear to be happening behind Google's doors.