Yes, one should donate/dispose what's never going to be needed, but the criteria have to be more discerning than a simple one year limit. I think ten years is a better limit, although I easily have worthwhile unused items going back further.
I did say there were some exceptions to the rule.
Sometimes I go through and throw a lot of stuff out. We have a reuse center in town where you can get that sort of cable for $2 so it is not like you have to pay Best Buy prices