Sure it is, and of course the modern coelacanth is not the same species as the ancient fish - it has changed slightly since then.
Why not more change? If you're already well-adapted to your environment, and the environment doesn't change, then it becomes increasingly likely that any change will make you less well-adapted, and such changes will be selected against. So therefore, creatures that stick with the tried-and-true body plan will preferentially survive over radical newcomers who are less well-adapted, resulting in organisms that don't appear to change much over time.
It's not just coelacanths, either - sharks, cockroaches, dragonflies, ferns, and lots of other things haven't changed much in the last hundred million years either. If you have something that works, there's a strong incentive not to change.
The Coelacanth is a classic stawman. Merely because creatures can evolve doesn't mean that they must.