Yep, the system is old in the same way that we could call x86 "old". The architecture is backwards compatible with instructions going back to the mid 1960s...but that doesn't mean new instructions and updates to the ISA aren't being pushed out on a pretty regular cadence.

The new Telum II processor (and certainly this also implies another big ISA update and new hardware cycle) was announced at Hot Chips just a few weeks ago for example. See:

https://chipsandcheese.com/2024/09/08/telum-ii-at-hot-chips-...