Look at software that has been around for decades, continues to improve, never "needs" a re-write, and will never be re-written. It exists and is not uncommon. Things like the linux kernel, all the GNU utils, emacs, vim, apache, nginx, postgres. The list goes on. We know how to write software that lasts for decades, continuously improves, and doesn't need constant re-writes. You give it to skilled people who care about it, and don't put artificial corporate constraints or impose fad architectures on them.
I'm not saying the corporate model is "wrong" - it works. "Works" means it builds companies and generates profit. That is the goal. But it will not generate stable long lived well designed software. That's okay though because that isn't the goal. Sure, the poor quality cuts into the margins a bit, but not enough to matter.