The network architecture was ridiculous 20 years ago, it still works. That's one of those things where I feel like "cool, if it's really broken enough, write a new backend and maintain compatbility to my stuff. I'm a user and don't care about your architecture". I'll gladly admit that there's a non-trivial amount of nostalgia in that logic though. :)
IRC's network architecture only survives because people tolerate it. Even slightly animosity from the community brings it down hard every time.
I think what's valuable is the chatroom model, which is largely dead outside of Telegram (which is, I agree, unusable from a user privacy and control standpoint). Part of the reason I'm passionate about this is that I want the model to be robust and well-maintained. I am nostalgic for the model, but I view the underlying legacy implementation as an obstacle to the preservation of that model.