I just spent the day doing mechanical support for yet another sponsored group ride. Noticed that I'm seeing more and more "fredded up" Serottas, 5-20 year-old road bikes with radical riser stems, stem extenders, flat handlebars, cruiser saddles, the works.
My guess is the old guys whose backs can't handle a Trek OCLV or a Tarmac anymore simply give them to their kids and get themselves a hybrid. The Serotta owners can't give it up, though, and go through some pretty heroic and expensive maneuvers to stay on their Serottas.