Cant they just be archived, if they have some great substance of information to look back on in the future? a lot of times I like relooking at old threads/ideas/ ect… to compare them to what has changed in the future, and remembering the data/ideas/opinions to reflect on for later use. That cannot be possible if the entire threads, and posts are deleted in period of time.
No thread will be deleted unless a moderator believes that to be necessary.
A ‘closed’ thread is one that cannot be posted in. The forum is configuring new threads to be automatically closed two months after they were last posted in. The intention behind this is to avoid old posts causing confusion. I have recently closed several old threads with feedback on our previous forum as they are no longer relevant. You can still read them, though. 
Adding on to this, you have to factor in bots that post in buried threads (depending on the forum configuration) to boost their post count before spamming other threads. Some forums don’t surface old threads that don’t get a certain amount of posts in x amount of time, so leaving them unlocked makes them a breeding ground for link spam and keyword stuffing bots.
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