Earlier quoted context omitted.
Coders can only code, so that's what they do. Even if there's no new features needed or the old software is working fine as is, they will keep refactoring. Gotta keep up with the trends.
I'd agree. Given the opportunity, programmers will often work without regard to business needs. For example, rewriting an old codebase using their favourite new stack.
Sometimes that is a business need, but the rest of the business doesn't recognize it (or won't until it's too late). Yes, having your website running on coldfusion 5 isn't actually a problem - data comes in, data goes out, orders are filled (ecommerce, for example). If the actual business needs didn't change ever... there would not be a need to ever refactor/rebuild.
And yes, I've seen "needless" refactoring, without regard for business needs. But there are folks who do understand some of the needs of the business before the other business units may realize it themselves.