There are so many counter examples (Facebook, Microsoft to name two) to your point it simply can not be true.
When I say long run, I'm talking hundreds of years. Software as an industry is not even one generation old yet. There are countless advancements that will come.
That being said, I don't consider social networks to fall into the class of an area where your product is the main differentiator. Network effects come first, product second.
Database products are a better example. JIRA another. It's the most widely used now but extremely slow and buggy. I sincerely doubt JIRA will be the winner 100 years from now if they don't improve technically.
In fact, a lot of software companies these days are just competing with traditional companies, but with better software. That's the whole selling point. E.g. fintech replacing banks, uber replacing taxis, insurance companies that make it easy to make claims etc. The bigger the tech disparity, the bigger the advantage.
Lets see!
I suspect that there's almost nothing going on at the Ford Motor Company that has even the remotest connection to anything technical that happened during the early years of the company's founding.
Sometimes, stuff just really does age out.
Engine blocks are still cast, sheet metal is still bent, pressed, and rolled so I think there is a lot of the original years still around. Yes, I’ll give you that there have been huge advances in sophistication, but it seems to me the early years are still present.