I am currently working in a business where there is a nearly 8-year old Rails app (600+ models, 250+ controllers, 400+ libraries, LOC around 60k), that sits at the heart of everything we do.
The company is struggling to grow and believes the cause is that engineering is slow. We have asked to refactor this code base multiple times, and point to the technical debt as the cause features that should take a day to implement taking between 3-4 weeks, typically.
It is only recently that the penny has finally dropped and they've realised if they don't invest in replacing this thing (there is too much technical debt to fix, we're calling bankruptcy and moving to a brand new architecture piecemeal), the business is likely to fail within 1-2 years.
That means my current employer is likely to go bust because of technical debt within 2 years max unless we become really good at fixing this.
We are optimistic.
We have to be, right?