I wouldn't consider CGI dead either. After all, it is supported by all major web servers.
One reason not mentioned for starting a CGI project might be Intellectual Property protection. For example you may decide to write a CGI program in C++ and allow your customer to install the application on a server not controlled by you.
Maybe your legacy product has tons of business implemented as libraries. (.dll, .so. .lib. .a etc) In this case, it may actually be faster to market to stick with c/c++ when implementing a web interface.
Perhaps, you work in a Delphi shop? If 10 out of 10 engineers in your shop write Delphi, writing your new application in PHP may not be your fastest path to market.
So, in short, many variables come into play when deciding what tech to use for you new product including:
- Who's your customer?
- What is your starting point?
- What are your assets and resources?
- What do you enjoy?
- What does your software need to interface with?
- How will the application be deployed?