I remember using TweakUI to enable "always show underline for shortcut key" because that genuinely felt like it should be a default for better usability.
I wouldn't say they're dead, just more hidden (e.g. GTK4 only shows them when you hold Alt). AFAIK most toolkits still support them, but app developers also have to actually define them.
The problem is that they are less discoverable and you need to make and effort to get used to using them instead of point and click.