Because newer software has less bugs and is more secure?
I doubt that.
I doubt that.
I believe every project should be re-written every 4-5 years, it becomes less and less expensive to maintain it on the long run. Also keeps workers morale and promotion cycle healthy.
Unfortunately, not all companies have resources AND structure to put that resources in refactoring something that already works.
Don't get me wrong, I love internal projects because once you're behind the gate, they are the first things I probe and attack. Usually very easy targets.