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I will add that i think 3 wire is a bad idea, with a bad day it could
be a real hazard....

buy a new dryer? then get a new cord and updated outlet

Problem is - Many older houses are not wired for the updated outlet.
If you don't have the proper wiring at the outlet (2 hots - Neutral
-Ground), you are not allowed to install the 4 wire code-compliant
outlet (vs. the old 3 wire outlet). Hence the grandfather clause...

For many older houses - installing new dryer wiring would be difficult
(expensive) and involve pulling new wires and possibly ripping up
walls.

The NEC allowed the 3 wire exception to save on copper during WWII.
Then, one or two people got electrocuted by their dryers and they
decided to go back to 4 wire some years ago.

Apparently Canada never did this. Anyone know for sure?