There's a lot of truth in that. A few days ago I wrote a comment about rewriting a program from C++ to C and coming in at about 1/4th the code size. However, I didn't mention C or C++ in that comment because the real savings came from reevaluating requirements, lessons learned, refactoring, et al.
Some time back, someone here on HN posted a comment about rewriting a Java app in... Java. Same basic story of large savings, without changing language at all.
Studying the actual effects of language is hard (time/effort/budget beyond constraints), so people don't do it.