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Why Java instead of C# or Go though?
Because IBM doesn't want to tie themselves to Google or Microsoft. They already have their own builds of OpenJDK.
No. Because IBM sells WebSphere, so java it is so they can up sell you for more contract labor.
Because Cobol is mainly used in an enterprise environment, where they most likely already run Java software which interfaces with the old Cobol software. Plus modern Java is a pretty good language, it's not 2005 anymore.
Java is a POS and that’s before log4j.