It's certainly true that you can build software if you have the code (well, mostly true. Modern frameworks suffer from quite severe bitrot). But I'm not sure that you can extend it.
Large software projects rely on people understanding them. If everyone who worked on the project is gone, it's very hard for someone to regain the architectural understanding required to extend or refactor things. Without any overlap, there's nobody to answer questions. As long as there's been a continuously overlapping stream of developers, that knowledge is more or less retained - but if all the developers leave, and someone picks up the project again later it's almost impossible for them to make meaningful improvements.
AI probably changes this completely.