It's almost always younger trees (-100 years old) and often second growth (not taking old growth coastal trees)
It's pretty tightly regulated in terms of ecosystem impact, sensitive locations, buffers, though lots of people disagree with what should be acceptable
They understand it's in their own self interest to replant, as some of these companies are harvesting planted trees already.
It's definitely not perfect, but on the whole is sustainable, and in some cases like our recent insect infestation (mostly caused by aggressive fire suppression) the preferable method to limited scale thinning