This is called compatibilism and yeah it seems to be a mainstream view in the academic debate
Second, I'm not sure what you mean by "mirrors reality". The debate surrounding free will is about defining the term and its properties and how it's a factor in moral responsibility. To do so, it must provide a justifiable framework for moral reasoning and our moral language to make sense of how we use the term. Compatibilism convincingly meets the necessary criteria, and that's why it's the majority view.
The holdouts are people who insist free will must have certain properties that Compatibilism probably doesn't have, but they haven't been able to argue this convincingly enough to persuade a majority.