I'm sure some do, but there's also a certain simplicity to "back up the Win95 machine" and "collect working Pentium 2's from eBay," particularly for fields that are not interested in IT for its own sake. A virtual machine adds an extra layer of abstraction and complexity, though I'm sure there's a slow trickle as entities have trouble replacing hardware or luck into technically savvy and ambitious staff. I've certainly seen my share of data being entered into a Windows 10 app that sure as shit seems to be a terminal emulator running some green-text dinosaur, or else it's got a set of Visual Basic widgets that seem like they'd be compatible with one.

The rant in the post has some merit to it, but the thing it sort of misses is also the reason not to use VM. It works just fine. It hasn't been updated in 20 years because it still works. It does what it says on the box. Why put it in a VM? What would you gain from it? If you need Internet just grab a laptop and have it sit next to the main computer. That way users have a much smaller chance to break something vital. Pretty much all the control computers are air gapped anyway. No updates or anything to break things you reeeeally don't want to break.

The only case I've seen VMs being used is if the old computer breakes and you can't really find something that's compatible with old-as-fuck software om bare metal. I work in a cleanroom and we got sooo many systems that are windows 95 or older (DOS anyone?). Electron microscope, etching systems, probe stations

You can get PCIe to PCI cards. I think PCIe is pretty much backwards compatible with PCI and only little logic is required. And PCI-X cards do work in PCI slots at reduced bandwidth.

Tho, if a system works without issue, why touch it? Only if parts become hard or expensive to come by a replacement makes sense.