Depends on your industry. In finance there are many, many projects which have to be done for legal compliance. There is no 'profit' for the company; the goal is to be permitted to remain in business.

Funds have to be allocated to do the project, but it brings in no new revenue. It might actually incur new costs, such as ongoing storage for audit logs.

Clearly there is value in not forcing developers to use 15 year old machines, but it isn't so clear to quantify.

Since whomever 'quantifies' this data then has enormous influence as to what projects are worked on, you risk just shuffling around the politics: instead of fighting over what projects to work on it becomes about how many dollars each project is worth.