Earlier quoted context omitted.
It somewhat surprises me that they'd not want Java to become the new COBOL. COBOL is still alive, still runs large systems, and still sells hardware and software. Owning the new COBOL has the potential to be quite lucrative in the long term.
I don't think so, Although I agree with you that COBOL is still alive and kicking. That is totally different that being used for awesome projects and by start ups. If Oracle's plan is to keep Java alive as a glue for their DB that strategy would work fine. But it would be a long term disaster in terms of overall innovation, and long term viability for choosing everyday projects.
What about Android apps?
What about solid back-end?
What about Google AppEngine-Java?
People are still using Java for everyday projects and I don't see a disaster coming anytime soon.