Speaking as an ex-hoster here who had to look after a fleet of shared servers running PHP (000's of sites) for 15 years, sadly life is not that simple in the trenches. The major problem with PHP is breaking changes. Even within the 5.x releases there were enough breaking changes such that upgrading from say 5.3 to 5.6 could break a site. The jump from 5.6 to 7.x has enough breaking changes to make you cry. I think there should have been a commitment to maintain 5.6 for the next ten years, if only for security fixes.
Now I'm not suggesting that developers shouldn't go back and fix stuff that breaks because the PHP folks removed/altered that functionality (with the good intentions of encouraging more secure programming, for example), but there's a labour cost and someone needs to pay for that time.
There's also functionality in PHP that shouldn't have been removed (register_globals) but should have been defaulted to disabled. Sure register_globals is insecure but what we saw were folks adding the same functionality back, just google for "php emulate register_globals".
And don't get me started about the annoyance that was removing mysql_* support. Those exact same insecure string concatenated queries are still being executed via mysqli_* and the PDO libraries. In my experience, binning mysql_* didn't make a damn bit of difference when it came to sql injection attacks.
Don't get me wrong, I admire the efforts of the PHP core team, but they made a rod for our already sore support backs whenever a new release of PHP shipped because of some fairly unnecessary BC's.