This is very true.
And to be honest, there are actually piles and piles of money just waiting to be made this way.
We (as an industry) are trying to invent flying cars and the world's 482,382nd social networking app with zero revenue model and other crap crap like that.
Meanwhile, your dentist's office is using software that sucks, probably costs $20K a year, and looks like Microsoft Office 2K3 threw up all over their computer screen. But we ignore that, in favor of creating yet another new Javascript framework-of-the-week or something else the world doesn't even remotely need.
I'm currently working at a privately-owned company that makes software for one of these unsexy niches and they're making very solid money. They're literally the only one making software in this space. It will never be a billion dollar space, and probably never a $100mil space, but there is a need and a market of companies willing to pay well for this software.