It actually makes sense to me. There are a lot of shops with legacy Rails apps, and they'll use Rails for new code too, because it's worked well and they don't need to do the shiny and new.
Some things get better with age. There's an advantage too, not being on the brand-spanking latest version of something – you get to let everyone else filter out the crap before it winds up in your production environments.
A few examples from recent Rails releases,
(1) Turbolinks is one thing that was widely regarded as absolute crap when it was released, but now I think it's a pretty non-controversial way for Rails developers to give their users a single-page experience without necessarily diving headfirst into JavaScript.
(2) If you rebuilt all of your Rails 5 apps to use the shiny new Encrypted Secrets in 5.1, ... surprise! 5.2 deprecates secrets in favor of the newer Encrypted Credentials feature.
I'm not saying there aren't good ideas in newer frameworks, but how many mature frameworks are still in active development? (Make a list) ... and how many of those would you actually like to use?
Though they may be more popular, I'm personally not seeing lots of people rallying behind Java and .NET, or making outrageous claims like that those platforms prioritize developer happiness. Rails developers like using rails.
I agree that Rails today is a mature platform and very good at what it does: server-side rendered web applications with a relational database backend.
Otherwise, the most prolific programmers I know personally that used Rails, have all moved onto other platforms at new jobs or for their new development projects. Mostly Go, modern JS frameworks (many of them), Python, and Kotlin.