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It is common with personal and university sites. Someone gets all fired up about "the internet" and sets up a web site then after some period of time leaves for greener pastures leaving little orphan pages on a dusty server shelf.
I think it also says something about the housekeeping ability of some system administrators. But then they aren't able to update patches in a timely manner either ...
People tend to use the version of IE supplied with their OS, and as there is no easy upgrade for IE2 (and perhaps IE3 too), some people might have kept it, if it was only for occasional use.