OBig tech companies are huge fans of neural networks. Obviously. For them, 2% accuracy is an additional 2 billion in revenue. But when you are small, it doesn't make sense. I heard stories of the teams spending a year on a new recommendation algorithm for their e-commerce website, before discovering that 99% of traffic came from search engines. Their algorithms were useless. Most users didn't even open the main page.
Despite the popularity, classical approaches are so natural that you could easily explain them to a toddler. They are like basic arithmetic — we use it every day, without even thinking.