I'd go further and say that the ROI is not only "insufficient", it is negligible. Unless your legacy code is written in a language/framework where available experts are disappearing (which is not the case here), there is practically zero value on rewriting code that works as intended.
Plenty of legacy code was reimplemented from C++ to Java (a memory-safe language, not unlike Rust) when the latter was released. The ROI is definitely there. But given the scale of that task, it makes sense to pick the lowest-hanging fruit first. AIUI, most of the effort wrt. "oxidation" is now around WebRender, specifically making it the default render backend.