Blunt tools shouldn’t be used for complex real-world things. Other examples would be mandatory sentencing in courts (you should let the judge assess the particular situation), or things like “I don’t go out with guys under 160cm” (you should get to know him).
Just because someone is in their 70s, doesn’t mean they can’t lead. Not with any certainty. In some cases it does, but the political process should have the flexibility to deal with each case.
Look at Deng: he was mid-70s to mid-80s when he was in power and he improved the lives of 10⁸ or 10⁹ people.
No one should be in charge of creating laws they won’t be alive to see the consequences of. There’s very little chance someone of that age is truly in sync with what the average person wants, Bernie excluded. But even he I doubt is fully up to speed with everything. There’s so many reasons why it’s bad to have people 70+ in charge and since I’m on mobile I’ll let others go more into depth.