There is a lot of complexity but there are people who understand it and its really remarkably reliable, and good-performing.
And its not just trains. Cars, appliances, and or course, computers (I'm typing this on the 21st equivalent of a typewriter, in a way) have evolved and have features none of us - at least me - would ever think of giving up. The cost is a lot of electronics that makes them nearly impossible to fix without diagnostic equipment and skills, but they are reliable and dependable in general.
I much prefer today's toy trains. Maybe because I am an EE the electronics doing bother me, but I don't try to fix most of them myself anyway. the performance is so much better in so many ways. I would no possibly trade to go back again for the simplicity of repair.