No this is not an older is better situation. I personally probably wouldn't use it. It's probably fine but doesn't meet specs for current t vehicles.
It makes a good hydraulic fluid for things like lifts, etc. Try selling it to a lift service etc?
ATF also burns very nicely in a waste oil heater. Even seems to clean the nozzle, preheaters etc.
I've also had decent luck mixing used ATF with #2 heating oil up to around 20% without issues.