For the most part (where "most part" includes all of the collections
interface), all of the type constraints of generics are only checked at
compile time. The type-safe methods, e.g., checkedList, are guarantees
at /runtime/, something which generics can't do. Observe:

ArrayList<String> foo = new ArrayList();
List bar = foo;
bar.add(5);
String s = foo.get(0).substring(4);

This passes the compiler (although the compiler does give a warning), so
the code will be compiled to bytecode where it promptly emits a
ClassCastException. Passing the list through to checkedList still gives
an error, but it is emitted at the point of modification as opposed to
the point of access (which, in some cases, might not even give an error!).

In short, it is mostly a backwards-compatible feature, but it is
desirable in circumstances, so it is in no way an anachronism.