Well, the issue is that they have done it a bit sneakily, they removed all the legacy code they haven't understood. So the code is much more elegant, it has been moved to cpp11 or 14, it ticks every good practice. There is only one slight issue : it does not work. It somewhat work, but is not reliable and fails regularly in unexpected ways. And they've started 5 years ago, and haven't been delivering any business value since then.
At the beginning, it was okay because they had some leeway but now they are blocking the release of new products, and our market share is in free fall.
Heads have started to roll.
To be fair, a few years down the line, their team will likely be more productive and efficient, but I am still not sure that the cost of the rewrite was justified. Still the article is very on point on the risk of not paying your technical debt.