Honestly I'm not even going to disagree with you here, but rather just point out that in that case you may as well just keep running it on the hardware you bought it to run on. If you're using 20 year old software there's no reason you can't keep using it on a 20 year old OS running on 20 year old hardware exactly as well as it ran when it was new. Just make sure you keep up on maintenance and part replacements and you should be good.Think about all the old software that was developed by single enthusiast developers who did no longer have the time to create a 64 bit version or simply died many years ago. I still remember the Apple keynote with an old grandma that had developed an app. Not sure if she is still alive, but at least her app should live forever. That is especially true for desktop apps. I still use some software from 1998 on my windows PC. It can only work with a single core, but at least it still works.
There also is a lot of software that does not really have any advantage from 64 bit.
Operating systems should support all software indefinitely. Sometimes you spent money on software two decades ago, but it would still work great today, if it still was supported. I do not want to buy new software just because of the operating system, as I hate any kind of updates. I still run Photoshop CS2, which is 18 years old.
And if folks are doing that here then this won't really affect them. Sure you might lose the ability to connect to Steam online eventually, but if the game is installed it should still run offline or in LAN configurations just fine basically indefinitely as far as I'm aware. It's unlikely it was getting any meaningful updates at this point anyhow.