Just judging from the title it sounds silly. Last I remember while working at one of the companies between 2006-2008, COBOL & mainframes was a good chunk of their work.
Obsolescence is their bread and butter. I do agree they do have a lot of wrong and toxic people running middle management along with short term thinking. But that is partly due to their business model, a business model that gave the best returns.
Nail / head I think; a lot of western devs, especially the HN crowd, has the luxury of moving to the next 'cool' thing every couple of years. But they did write code, they laid the groundwork, and it has to be developed further on.
Billions of LOC of Java are lying around and there is a need for an army of developers to look after it.
Obsolescence is their bread and butter. I do agree they do have a lot of wrong and toxic people running middle management along with short term thinking. But that is partly due to their business model, a business model that gave the best returns.