Micro Focus is playing a last man standing strategy. Their company focus is based on keeping companies on the legacy systems for as long as possible. The problem is, most companies have some sort of migration strategy in process, or at least on the pipeline, the cost of operating these legacy environments and handling business changes are started to exceed the cost of maintaining it. As security concerns, changes in business processes, customer expectations of promptness, and connectivity with newer tools become prevalent. Staying on the mainframe, and using old tools or upgraded version of such tools, with a bit of polish to make it appear more modern, is just becoming more of an effort to keep going, the it will be to start over again.
So they are in business because most of their competition changed strategies or went out of business. However dealing with them, I can tell they are feeling the pain, as they are now bossing around their customers, giving them more expensive contracts thinking that they are stuck. (I recently gave them a snub at my current employer, by replacing their tool that they though was vital to the institution, with about 500 lines of python code and 24 work hours, because they were asking too much for license fees). I really don't trust them as a company, they are rather low life.
Now they are the last man standing, in a world where they are needed less and less.