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I vaguely had the impression that the original boards tended to fail over the years due to the capacitors.

I'm wondering, if this replacement board doesn't have them, how was that done?

I suspect the solution is that 1) you're going to assemble the new board with a fresh set of capacitors, resetting any wear/degradation clock, and 2) modern capacitors are likely improved from the early-generation surface-mount ones in many old Macs.

I'm very hardware illiterate - I meant that I didn't see any of the big cylindrical ones and wondered if there is some story behind why they're not needed.

Like this: http://pc-restorer.com/wp-content/uploads/2014/02/SE30-bad-c...

The caps in your linked photo are 47μF. The orange squares in the jumper wire photo are 47μF tantalum capacitors, that won't leak. You don't need those big cylindrical ones for such low capacitances anymore.

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