Comment by fidotron

> Ironically as we've gotten hardware with more VRAM and higher bus speeds we've decided to go with bigger textures instead of more of them. The same with normal mapping, instead of using normal mapping alongside more subdivided models we've just decided that normal maps are obsolete and physically modelling all the details is technologically forward way.

This right here is precisely what I alluded to in another reply as the motivator for generating meshes and PBR materials from controlled photography. Basically you now have enough parameters per texel, which interact in distinctly unintuitive ways, that authoring them is a nightmare, hence people resorting to what you describe.