I'm just speculating but I would say that's "not wrong".

The network connected part of Modern Standby can actually be disabled reasonably easily in command prompt and it does come up as a possible band-aid to battery drain issues. (In my applications it didn't help a noticeable amount but at least it's there.)

When Modern Standby works, it works... okay. I mentioned getting it working on my 7210 2-in-1 after swapping for a proper SSD (eyeroll) and while it still used more power than S3, I could live with 1-2% of battery loss in an hour a lot more easily than 7-10% and I leaned on hibernate more as well since so many of us have been burned by Modern Standby when it doesn't work.

I'm sure that while having the user computer being connected more is a net positive for telemetry and data collection but I think the drive towards it is more of a semi-misguided effort to compete with the sheer instant-on, always-updated nature of smartphones, iPads, Android tablets, etc. much in the vein of how Windows has been pivoting left-and-right to fit onto tablets the past decade but not completely recognizing that people often use desktops and laptops differently.

So on paper it's not inferior at all. Instant on, instant off, minimal power use increase, the computer can ring when calls are received, it can keep email up-to-date, sound alerts for reminders all while sleeping whereas it's completely dead in S3 save for RAM being powered.

Sounds cool, it's high-tech, I thought it was neat when I first heard about it especially since Apple's Power Nap feature was around for years already and did nice housekeeping functions while the machine was sleeping - albeit within power use and thermal limits.

Microsoft and OEM's just can't seem to make it reliable enough to be the slam-dunk it theoretically can be nor do it's benefits really shine in my use case since I sit down to use my Windows machines and nothing I use really can take advantage of Modern Standby. And since S3 is increasingly being pulled out, Linux has to deal with their shenanigans too.

Edit: Also I would expect ARM Windows machines to sleep better or at least be efficient enough to not worry, but I can't say for sure.