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.
Right but the approach is different. Now the idea is as soon as you have a song, you record and release it. You don't wait until you have 45 minutes or 12 tracks or whatever. The album comes out later, but it's just a collection of songs (and that arguably isn't really new either).