The mechanisms aren't obsolete, what have been implemented are workarounds and mitigation schemes.
For example:
When Ford developed the Modular engine, the idea was to make it far more tolerant of thinner oils than the Windsor it replaced. One of the keys in achieving that was to make the bottom end FAR more rigid, this was achieved using a deep skirt and multi-bolt and cross-bolted main caps, making an extremely solid "unit" for the crankshaft to rotate within. This dramatically reduced potential for deflection, twist and distortion; it tightened up the tolerances for the main bearings, while the clearances remained roughly the same as the Windsor.
Another thing implemented was coated skirts, this was also to reduce friction. This was coupled with shorter skirts, to also reduce friction. GM did the same thing on the LSx engines, but didn't do the coating at first, and this is one of the reasons the early LSx engines were notorious for piston slap.
Coatings, things to reduce load (lighter valvetrain components, so you can run lighter springs...etc) and improved additives in the lubricants designed to provide better wear control in boundary and mixed lubrication regimes all work together to keep wear to acceptable levels with the use of thinner oils.