It is trash code for sure, but most of the world's code is trash, so we do have to accommodate trash code when we design stuff. That said, they do need to do this to comply with laws and make sure code doesn't get lost (it's finance), and this was the easy way to do it. Doing it better would have taken time and attention away from other stuff.

And standards do change, but they usually change to accommodate new features, or a new software product displaces an old one. I don't really know any tech standard that changed because of cultural reasons. Point is, change is a cost. It may be worth to pay the cost, but here the benefits were US cultural sentiments that most of the world doesn't care about.

And the stupid thing is that even when standards change, you are not usually labelled as culturally out of touch if you don't follow it. Most big orgs don't follow changes that they don't need to. Nobody calls you a bigot for running COBOL mainframes in 2023, but they might if you predominantly have master branches.

I guess my perspective is that some people I know were mildly annoyed before lunch about it one day two years ago, since nobody cares about US identity politics, with my personal opinion being if the US didn't fill up its for-profit prisons with black people who it then those prisons profit off of (just as an example), the word master would not bite as hard, and the whole thing would be moot.