Depends on your time frame. Looking at the whole history of life on Earth evolution certainly correlates with complexity, looking at the last few million years, not so much.

I understand the argument about the upper limit of genetic information that can be sustained. I am somewhat suspicious of it because I'm not sure what will happen to this argument if we do NOT assume a stable environment (so the target of the optimization is elusive, it's always moving) and we do NOT assume a single-point optimum but rather imagine a good-enough plateau on which genome could wander without major selection consequences.

But I haven't thought about it enough to form a definite opinion.