This is a weird take. Sure, plenty of cool/nice things from old languages (e.g. variable-sized stack frames in Ada) get lost, and some then get rediscovered by future languages, potentially wasting effort. And I don't know COBOL, so maybe you're actually making a good point.
But I find that hard to believe. Does COBOL really solve all the same problems Rust is intended to solve? Is it as performant? Can it interface with native code from other languages in the same way? Does it have a usable and sane package manager built on top of a module system that facilitates composability and backward compatibility? Does it have a way to describe the shape of data and errors as ergonomically as Rust's algebraic data types?
Genuinely curious: as I said, I don't know COBOL. I'd find it extremely surprising if the answers to all these questions are "yes," though. Just as there are reasons COBOL is still used, there are also (good) reasons new languages have been created.