PPM is still used with modern 2.4GHz transmitters and receivers for powered models. Though the supporting hardware and interface systems have changed hugely over the years, the basic standard for controlling servos has not. There have been speed options added to the PPM interface to improve response and reduce lag, but most servos are backward compatible. They can still take the old standard 50Hz signal even though they can support higher frequencies.
What's changed for the most part is how the transmitter interfaces with the receiver. That is not backward compatible. These days you have to buy a transmitter and receiver as a matched set then do a "bind" procedure to mate them. This is contrary to older systems where any transmitter would work with any receiver. The reason modern transmitters operate this way is to remove any possibility of the receiver responding to signals from another transmitter on the same frequency. Prior to that it was necessary to for operators to coordinate frequency usage with a removable crystal in the transmitter. That was to eliminate interference when more than one model was in operation. People sometimes made mistakes and then a model would go off out of control. That's no longer a concern and it's pretty much idiot proof now.