Programs in COBOL mostly don't need pointers and offer better type safety than C. They often used nested structures of records, which are a pain to represent in C. Language is also stricter when it comes to modularity.
Rewriting in C would make most COBOL programs worse.
Also, floating-point is really not the issue. What you in fact want, on the IBM Mainframe at least, is to move to hardware decimal floating-point (latest IEEE 754), which is way faster than IBM's packed decimal (fixed-point) system commonly used in COBOL.
Finally, legacy COBOL systems either have or not have bugs which cause certain edge-case behavior and this is really hard to reproduce in another system.
I think that’s a massive exaggeration. Most people these days think JavaScript without a framework is “bare metal”.
Gatekeeping is fun.
It would be mayhem! Projects would just NEVER FINISH.
Paranoia is fun!