Not all new and shiny, but perfectly functional.
Tell that to my girlfriend. She can do most maintenance on her workstation, but she had to have me look at boot deadlocks about twice a month, all because /etc/init.d/rpcbind and /etc/init.d/networking were in a race, and the NFS mounts lost.
SysV rc is not 'perfectly functional' by a long shot. Both at home and at work I keep running into limitations that systemd solves. Systemd comes with other bugs, and I've been hit with one or two of them, but they were, for me, easier to solve than SysV rc race conditions and deadlocks.
The growing hairball is SysV rc. Systemd is an attempt to solve it. You may disagree with the solution, fine. But stop denying that it is at least an attempt at solving existing problems.