Nope, there's more bad code being written now than at any other point in history (I totally just made that fact up and I stand by it). If ever there was a time to be hero through code deletion, now is the time. Carpe diem!
If I didn't have so many bills to pay, I'd say that my current project would work better on 20% of the current size of the code base. And yes, lines of code is used as a team performance metric.
And since I was formally banned from using generics and lambdas and from refactoring old code without explicit permission, I am no longer hurting the team! Yay!
This is why one of my greatest joys as a sysadmin (where "is it working wonderfully?" is the metric) is my occasional forays into the build infrastructure codebase with an axe. Less is always, always, more.