Why Isn't COBOL Dead? Or Why Didn't It Evolve?

Here's part of the question:
Why didn't COBOL evolve more successfully?
FORTRAN, OTOH, has survived precisely because it--and more importantly, related tools, esp compilers--has evolved to solve/overcome many (certainly not all!) of the sorts of pain-points you describe, while retaining the significant performance edge that (IMHO, ICBW) prevents challengers …
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