Strongly disagree - COBOL apps are strongly tied to their obsolete hardware. On the other hand, containerized applications are "portable" - can run on everything that runs Linux.
The article speculates that the hardware is “no more” than 16 years old. Obsolete, but newer than the original code, meaning that it not that strongly tied to the hardware.
It can, but do you really believe is this what those apps are working on, or even that they could work without major rewrite? They are strongly tied to their mainframe environments.