You are (like so many other people) confusing IPP the protocol with IPP the driver, which is honestly not your fault and a terrible naming mistake.
And like you mentioned, people have way older printers because if all you do is print monochrome and mostly text, a printer from 2004 doesn’t lack much aside from AirPrint / Mopria. Which is why I suspect CUPS will not deprecate at least PPD drivers.