Good morning!
Some people are really satisfied with what they are doing and for me it is better than doing well and having good job or income but not satisfied with your job/work. I just recently saw this video clip of "Neil deGrasse Tyson" saying if you want to be happy do something (as a career) which you would happily do for free.
I don't know that old man's motivation but as you said he could just be very comfortable and don't want to look for something else. So many different personalities all around us!
I think it's about being respected and he probably feels comfortable enough with the job. In this economy, finding job alone is challenging so, it could be one of his consideration. Thanks for checking out, hope to see you in my next mornings too.