No, it is not daft. It can be very sensible as it is a 'sunk cost'. A 'sunk cost' refers to money that has already been spent and which cannot be recovered. What is important in business planning - and this includes the railways - is identifying and controlling the costs which may, or will, occur in the future. In the case of the railways the question to be answered is 'Will it benefit the company more to buy and operate new trains or to continue with the existing ones?' It is necessary to understand that sunk costs are excluded from such decisions about the future because the cost will remain the same regardless of the outcome of any decision which is taken.
In the case of the choice made between continuing with the old or buying new an estimation has to be made whether the income generated by the extra passengers which may be attracted to new, improved and, it is to be hoped, faster journeys will leave the TOC better off allowing for the other costs of purchase, training, modifying or building maintenance depots and so on. This is an important question as directly or indirectly the cost of operation is reflected in the subsidy required or the premium paid and therefore in fares charged or the size of the taxpayers' contribution.
To reply to the points about emissions made by other posters. Levels of emission are irrelevant for this calculation as emission levels are set by law and companies, like people, have to obey the law. In any event the quantities of emissions emitted by 'the railway' are tiny compared to those caused by road transport; as a first approximation the emissions are proportional to the quantities of fuel used and in 2016 (the latest figures I have to hand) the railways consumed 578,000 tonnes of gas-oil (diesel) and road transport consumed 24,648,000 tonnes of gas-oil and 11,951,000 tonnes of motor spirit. The railway consumed 1.6% of the total, and in the last three years more of the railway has been electrified so this percentage has dropped still more.