I’ve seen woefully outdated enterprise projects that are unlikely to ever be updated to new runtimes (think Java 8 to anything newer, alongside the limitations JDK version support brings), due to nobody having the manpower to port up to a million lines over while hoping for it to be bug for bug compatible.

Moving fast is really nice when you can get paid for shipping and have the project either be retired or someone else’s problem in a decade.

Updates cost money, or time.

Most places don't have the resources to keep updating everything for little benefit. (just look at node its terrible to support. )