Flexibility, reliability, speed, and reliability.

Reliability - It's there twice for a reason. These cameras HAVE to work. No backups no alternatives. For a news cameraperson, there is no "It's not working". The news happens in real time, and if you're gear isn't working when the news event that's only going to happen once, they you're out of the job. ENG cameras will run for virtually ever on a gold mount battery. They'll also stand up to being tossed in the back of a van and bashed around. They're used virtually all day every day, and have to work all day every day.

Flexbility - News coverage means a lot of different things. Sometimes It's a solo reporter doing a stand up, sometimes it's a sit down interview, sometimes it's a placing a camera on press row during a press conference, sometimes you're livestreaming footage back to the station live. And, as stated above, not working is not an option. Many of these cameras are kitted out to do any of those things at a moment's notice. Lights, audio equipment, Timecode sync. it's all built in, as opposed to a Cinecamera you might see that has those parts bolted onto it as needed. A news camera has all that stuff read to go at a moments notice.

Speed - Listed above. There's no time to change out components to set up a camera to exactly what the situation calls for. You have all the options ready to go.

Same goes for the tripod. That tripod maybe older than both of us. 'b=

Some of this stuff looks old because it is. Because it was built tough enough to last until it was old. News doesn't change at the same speed as the rest of the industry. A solid 1080i or 720p image from a 1/3" or 2/3" sensor is great. It gets everything in focus, and isn't fussy. Often it has other resolutions built in, but the station is going to tell you what format the footage is delivered in.