True enough cfrac, but it seems to me that the primary justification for that anchor was that it was too dangerous for those below for a party to go on to the top and avail themselves of any of the several nearby descent options, including two bolted ones (not to mention the walk-down and scramble-down).

That being the case, the real "problem" was indeed the one I depicted, and the "old-fashioned" solution would also have been the one I depicted---together with the permanent removal of the bad old anchor.

The "modern" solution was to ignore the real problem and instead fix a flawed and accidental solution by removing the bad anchor and replacing it with the lovely contraption now decorating the scene.

Preserve rules give climbers the "right" to do this, so I expect we'll be seeing more such things in the future.