The answer was pretty obvious, "I am in demand, you are just one of very very many".

Indeed. Some more stats from Gartner:

There are over 90,000 COBOL programmers in North America in 2002. Over the next four years there will be a 13% decrease in their number due to retirement and death.

There's more COBOL work than ever, and fewer skilled people. If you're comfortable working in the industries where COBOL is dominant then it's an excellent career choice. It's not going away any time soon.