Been around a long time but it is becoming more common.
Not really. Just remembering only the good from the past and ignoring the bad. Normal pitfall of a human memory...
The only difference from the past is, the engineers are better at designing on the edge.
It is not they like to do that, in fact neither are the "beancounters" in the companies. It is the consumers who are forcing them to do it.
You should never forget the main function of the companies is not to make products, their main function is to make money for their owners/shareholders. The product making is just the way to make the money. So no one would make anything and loosing on it (well, except Tesla cult but that is an enthusiastic cult, not an industrial company).
So if your competitor just cut corners, he is able to lower the price, customers stop buying from you. So unless you cut the corners as well or convince the customers it is worth for them to pay premium for your product, you are out of business, so wont make money anymore. Guess how you would be sucessful convincing the customers...