Earlier quoted context omitted.
Maintaining old stuff is way more sensible than rewriting everything every few years. Companies tend to measure costs of maintenance vs rewrite. Edit: there's always a tradeoff but I wrote "every few years". Cobol is an odd example. Many banks have been going back to Cobol because they found it less expensive than the alternatives and are there is an influx of new graduates learning the language right now.
Sensible for who? Companies may try to estimate costs of maintenance vs rewrite, but individuals need to make the final call and for them the benefits usually go the other way. Maintaining some existing project is going to get you nothing if you do it right and will bring you problems if it breaks despite your best efforts. Rewriting an existing system in a new tech stack counts as exciting innovative work for promot…
Hell, I have seen the creators of the problems get endlessly promoted for constantly solving problems they created.
Small or medium company, critical systems going down a lot...give me that shit. Easy money and reputation.