Most companies where I have worked, or done work for, follow a financial server refresh schedule of three years, i.e. they buy a new server to "replace" an old server. This new server however, does not necessarily replace the old one and may be provisioned for a totally different function; or the old server will be reprovisioned in a new role. It is rare that servers are simple dumped - unless you work for a bank....
It does make sense though to provision critical services on new and reliable servers, with a maintenance contract. Thanks to virtualisation it is now even easier to migrate to a new hardware platform; it can be done with zero downtime.