At the Build Stuff in one of the topics "Demonolithing the monolith" was suggested that rewriting the entire application may be more efficient for the business and it is possible that in this case it was but in my experience such an approach does not always work. What you always have to do is to analyze the system and the business and decide what way of working with legacy will be the best. One such way is described here:
https://lnkd.in/dYWTRRqj - we have lots of patterns to working with legacy