Bob German - This is a good article explaining what is possible with SharePoint Modern customization. Being an active SharePoint technical person since its 2003 version I agree that considering classic SharePoint, Modern Site pages and associated features uses most recent technologies and user experience which is truly great, "SharePoint is not boring to users anymore".
Some statements from Microsoft these days causes a huge irony. For example, in this article it said is large bold text "You don't brand Word or Outlook, why should you brand SharePoint?" - SharePoint and MS Office Suite apps co-existed over few years and it was the same Microsoft who thought earlier that having a customization support master page and themes based model for classic sites was a brilliant idea and offered several supported ways of introducing the company brand in SharePoint sites. Having worked on several of Fortune 500 companies intranet pages, I have seen people liked the idea of branding their key SharePoint sites. Golden rule then was simple, keep OOTB for Team sites, and customize SharePoint design and brand for sites like Intranet Portals to reflect corporate culture and theme.
Hoping that when the customization framework for Modern site evolves, then there would be a different statement
"You would brand SharePoint because it's Modern Web and not Word or Outlook".
Cheers,