It's absolutely true. People with enough experience to have "old favorites" tend to be very senior and expensive or retired.

New grads and junior engineers can end up trapped in a career dead end if their first job is on seriously old legacy tech.

https://medium.com/@csixty4/pick-was-post-relational-before-...

I almost fell in the same trap, but quit a similar job to go back to grad school and get my Master's in CS.