>>18172legacy tech is for older devs who never updated their skills and instead decided to snowbird on the tech they learned when young. Its not that 22 year old grads learn cobol, its that they retain the same guys who programmed a pdp-11 back in the 70s to stay on and keep consulting to fix all the arcane errors with that one program that the state government is still using since 1977 but is in charge of all payroll for government employees and absolutely must keep working.
The only exception ive seen to this is mainframers, z/os programming and so forth, where I actually have seen new grads hired.