Nearly every codebase I've walked into has looked like it has literally never had a refactor. I don't think this is a coincidence--I think that most teams do not know how to design code well, so they aren't going to come up with something better if they revisit the code. Also, many developers can't read over a whole lot of spaghetti and straighten out all the noodles in their head to infer the original purpose of all that code. Therefore, they're afraid to try a refactor, for fear they will cause more bugs and get slammed over losses in functionality that was there. And code that has never been refactored tends to be hard to wedge a refactor into, which means you might have no choice but to keep the refactoring branch out for days or weeks. And that comes with its own issues. Not least of which if you're taking a week or more to do work that doesn't create new features you usually need management buy-in.