tl;dr learning COBOL as just a programming language doesn't seem to prepare you for an actual COBOL job in most cases, unless the company is willing to invest in teaching you.
Also, overnight batch processing may not be automated but require an operator initializing each job in the schedule or schedule in the schedule with runsheet instructions. I think dialogs are created with ISPF and software for moving software from test to production, but I'm no expert on the mainframe.
https://en.wikipedia.org/wiki/MARK_IV_(software)
https://en.wikipedia.org/wiki/TOPS
The mainframe has a large ecosystem that is needs maintenance and feature additions and the work doesn't pay so bad if you don't mind the system. I know Mainframe DBA's make $110k in Dallas/Austin.
Also as others have insinuated, COBOL itself isn't a challenge (nor PL1 or HLASM or any other language really), it's the zOS/360 mainframe environment, understanding the nuance behind how all these disparate systems work together, being a JCL wizard, knowing all the IBM yellow books off the top of your head from 40 years of working in the industry, understanding how to use IBM IMS db efficiently, etc. Also the entire ecosystem of stuff you might take for granted, like IDEs/debuggers/deployment/etc, are all quite ancient on zOS systems and take years to get proficient in.
So now the chickens have come home to roost, and there's a skill shortage. You'd probably end up at Fiserv, or maybe at a big bank or some gov't agency that'll drop you at the first opportunity. You'd get a decent salary, but not a massive one.
You'd be better off working at a place that views your development effort as something that generates revenue. Rewards tend to be higher. And wherever that ends up being, they almost certainly won't be using COBOL.
That said it's largely a fake idea yes. "There's a shortage of cobol devs" sounds a lot better than "we spent decades undervaluing, outsourcing, and not supporting mentorship in this critical niche and now we're experiencing the consequences."
These are legacy systems that need long term maintenance. If you like building cool new things and working in a laid back environment, the salary may not be worth it.