I even had a PE buy the company I worked at, put in a new CEO, and his goal was to rewrite the entire code base in a year. I asked him what problems this would solve and never got a straight answer besides "its yucky" and "people told me they dont like it."
I have had multiple upper management teams decide that "dealing with this product is too hard, let's start from scratch" as if the new thing wouldn't have the same problems of the old thing, but with less effort put into it.
People love to work on new, all the possibilities and none of the bugs!(yet)