There are still some places that operate that way, as outlined in this Jane Street talk https://www.youtube.com/watch?v=zR9PpXWsKFQ (Production Engineering When Trading Billions of Dollars a Day).

> capacity to reason about it (during critical downtime) and communicate it

That's one of the things that's put into limelight in that talk.

I personally think that most of "Web Scale" software is inconsequential (inconsequential for its creators, not for users) - as there are no consequences for bugs and outages at all. A data breach -> slap on a wrist. Reputational damage because on an outage/data loss amidst general public? - almost impossible (clownstrike, anyone?)

The funny thing is that web scale software that's consequential is often in an ethically grey zone - but at least you won't be surrounded by colleagues who don't give a shit.