Unless you're a developer, you can't really say that unless you've seen the source. A lot has changed since 1999; a lot of code probably did get rewrittenespecially file handling and codecsand some of it probably is still there from 1999.
I'm not saying the code is 100% outdated or boated, but yes, I obviously haven't seen the code, and even if I did, I wouldn't know what any of it meant. But even small applications still have legacy code that after a while gets dumped in a major overhaul, so is it too crazy to assume that some of it is in as large an application as Final Cut is?
Could Apple do a 100% rewrite? Maybe but its track record isn't that great. They took iMovie, added some great features but also pissed off a lot of people by not adding certain things in. And they still haven't gotten the Finder up to Mac OS 9's UI standards (and unfortunately probably never will).
Now let's be clear here, I'm talking about rewriting the code that needs it but keeping the look and feel of Final Cut. I would NEVER wish that iMovie '08 fiasco upon anything. Rewriting for the sake of rewriting is pointless. It's like Apple redesigning the Mac Pro case just to redesign it, that's stupid. The case is darn near perfect for airflow, access, and style, so only minor tweaks (2nd optical bay, RAM riser realignment, etc.) are all that's needed. I guess we'll all see what happens IF there is an Apple event on the 24th.
To the user who commented that a media event would be a waste of money, this would be a Town Hall event on Apple's campus. The costs to them would be minimal, and the people invited would be Journalists from DV magazine, Creative Cow Magazine, etc. and not the run-of-the-mill journalists. In the past, the presenters were Rob Schoeben-VP of Apps and Product Marketing, Paul Saccone-Apple's Director of Video Marketing, Dion Scoppettuolo-Senior Product Marketing Manager for Shake, and Alec Little-Music & Audio Product Marketing Manager at the 2007 NAB Event. Maybe Tim Cook would appear there, but probably not. Interesting note from 2007, the Shake manager was demoing Motion 3, so is he just a very knowledgeable guy, was Motion part of the same devision as Shake, or am I just speculating that with Shake out of the picture he was moved to Motion to bring with him Shake?
The consensus seems to be that All the pro apps either need (Aperture, DVDSP) or are deserved of an update, if possible (Logic Pro).
-Brian