No, the game has changed. Back then, the singles were typically accompanied by an album, even if it was just filler. It's better to release singles now due to the way the Spotify and iTunes algos work. Best practice is now to release your songs one at a time rather than a full album (at least if you aren't an established player).

On one hand this pretty much destroys thematic albums (like classical music, prog rock, Tool or for example, something like Alice in Chains' Dirt), but on the other few could pull it off and those who can are still doing it (ex: the latest Opeth album). So maybe discovering new music is hurt, because itunes and spotify look like crowded ERs, but there's just as much good music out there - regardless of your tastes.

Right, there's less unnecessary dressing of an "album" of filler. But I don't think that's a meaningful change. Singles drove the market then and they do now. Albums were still produced then and still are now.