Earlier quoted context omitted.
For what it is worth - I write Fortran professionally (in some of the use cases you describe) and I doubt its usefulness. The way I see it, Fortran exists today because of inertia, not because it still has technical superiority. These mountains of Fortran code represent decades of investment and undocumented "features" that you could never code around during a rewrite. And so today, new code is bolted on, with a pray…
The key advantage of fortran is that it doesn't allow pointer aliasing, which allows the compiler to vectorize more. Couple that with the typical fortran use cases and compiler vendors competing on performance by vectorizing more and more. What you end up with is a language with a reputation for being faster for computation
But I can assure you, the vast majority of legacy Fortran is not vectorizable. At least not without a bit of refactoring.
Oh and did I mention, most of this legacy code was hand optimized for memory utilization. You see, back in the day 8k of memory was cutting edge HPC and about half that went to the OS and compiler. Well we all know, everything is a balancing act between time and space - the old timers traded time for space just to be able to do the computation at all on the hardware they had.