No really, in fact I'd say the opposite.

The issue with COBOL is any old idiot can't write it. If someone is touching the COBOL they are going in and making minor changes/expansions to an application that is older than the average HN user and those changes and expectations are well defined.

With Java and/or language of the day your cheapest run of the mill contractor given exceptionally poor instructions will crank out X LOC per day where X is the required output for them to keep their job. Maintaining that code will be some other bastards problem.