The only thing worse than uncommented code, is wrongly-commented code. In my experience, code is almost always wrongly-commented, either because the programmer wrote the comment wrong in the first place, or because they wrote the code wrong, or because the code was later updated to do something different, and the comment was not updated to reflect the changes. In my experience, especially in an old codebase, it's extremely rare to find a piece of code that is both thoroughly and accurately commented.

Given that reality, I would rather forego the comments for readable code. Readable code tells me what is going on, and doesn't lie!