That is not quite right .. although they are not putting out new features they are putting out release as they fix bugs. But these are few and far between. I am with Erwin when he says to try the beta (of the next release). Works well and no big problems

Always use the latest beta version. Nothing new is being developed in MM4, but only more BUGS is being cleaned up.
In my signature is the link to the BETA version.
MM4 Close
Download
Download double-click
update is performed

MM4 Start
Check: Tools> Library> Tags&Playlists ...
activate: Create playlist of Tracks newly to the library
MM4: restart

Ah... Perhaps there is a different bug then. When I use "Check for Updates", I am told (and just checked again) that 4.1.27.1987 is the latest version.

Not sure if I understood though.

That's OK in version 4.1.28.1901.

1) Download 30+ songs from your favorite music seller
2) Dump into your library and let MediaMonkey rescan
3) Look for the Recently Added Content Playlist that MediaMonky usually makes
RESULT: Old playlists are there, but no new playlist was created to help find them.

This was extremely useful. Hope you can restore this functionality. With thousands of songs overall, I bought a bunch of awful music that my daughter likes. Now I have no way to add it to her playlist unless I search for each song individually and drag it there. (Done, but this has been very useful in the past and is expected to be useful again if you restore the functionality.)

(Using mm 4.1.27.1987 on fully updated Win 10)