Does somebody have a more specific answer other than "more scientific techniques" for what makes modern malt "well modified" though? What exactly made it so that we don't need to be doing step mashes anymore, where 100 (maybe even 50?) years ago they would have to?
STOP!!!
Step mashes never had to be done. They were never a requirement. The British have been doing single infusion for hundreds of years.
Step mashing evolved as the science of mashing evolved. Tests were done to determine what was happening at the various temperatures and how each temperature could be used to its fullest.
Step mashing has nothing to do with malt modification but rather making use of certain properties of the malt at each temperature. Ferulic acid rest, Protein rest, Beta rest, Alpha rest, etc... None of those care about malt modification.
Grow the acrospires such that they're 75%-100% the length of the kernel and you've got "well modified" malt.
I'll say it again, "Grow the acrospires such that they're 75%-100% the length of the kernel and you've got "well modified" malt!"
That's really all there is to it. No magic involved.
The OP is correct in stating that "modern malts" and all terms referencing that phrase are fallacies.
Other posters are correct in stating that the ability to accurately maintain artificial temperature constraints was a huge step forward such that industrial malt operations could make large quantities of well modified malt (i.e. malt that was not over-modified (acrospires grows longer than kernel length) or under-modified (acrospires length was < 75% the length of the kernel)).
Step mashing isn't going to help over or under modified malts. Decoction mashing may help under modified malts by breaking cell walls through boiling but that's about it.
Why there's so much misunderstanding about such a simple topic is beyond me and why it keeps being repeated and misrepresented is also mystery.