Arnieco, your thesis is the opposite of Pani's.
Any phono stage requires lots of gain, more than any other audio component, and a filter that conforms to the RIAA standard de-emphasis curve. Except for tubes, today's parts (discrete transistors, ICs, capacitors, resistors, inductors, diodes, etc) are simply superior to even the very best available 50 years ago. Furthermore, the RIAA standard has not changed since the 50s, and there are only so many ways you can build that filter into a phono gain stage. In fact, there are on line calculators that would allow anyone to build an RIAA network any of several ways. The designer does not even have to be a genius. So it stands to reason that today's electronics can be superior to anything available 50 years ago, if the manufacturer cares enough. But likewise I think the old gear can be modernized using the superior parts now available. So there is no real issue or certainly no tragedy.

