No one really flies a 747 in a modern world because 4 engines are less efficient than 2 engines...and gas is really expensive so it increases your ticket price inordinately compared to a 777 which can hold less people but get those people there cheaper. Think dollar cost per seat.
You have some 747 cargo jets still which can get away with it due to it still being one of the best for moving a large number of heavy goods.
Basically...it's a white elephant. Now they own a depreciating asset that they cant get rid of and has a massive upkeep cost or a high cost of fuel.
DJT said it's the DOD's...but the DOD doesnt need a 747. Maybe they can make it into a new AF1. Keep in mind the current AF1 looks like a 747 but it's really a VC-25 - a military variant. There's already an open contract with Boeing to replace it with the new VC-25b since the current plane is 25-30 years old.
It's not just the cover, and now you know that. In fact, it's the cover that misled you.