I don't understand why it didn't have the backing of the "tech world" and yet billions (if not trillions) of lines of COBOL are still being executed today? Whe

I don't understand why it didn't have the backing of the "tech world" and yet billions (if not trillions) of lines of COBOL are still being executed today? When I first joined the industry, back in the early 90's, COBOL was very much the premier business coding language, and I think that only changed with the arrival of Java. Can you explain further?