What has changed is the assumptions about how we would detect a starfaring civilization. 60 years ago we were assuming radio communications because that seemed to be where our future was and, by extension, what we might expect other civilizations to do.
Obviously the values in the equation are unknown. We use such things to frame problems that involve unknowns like this. A good example: the anthropic principle [1].
Anyway, the more prevalent line of thinking now is that starfaring civilizations are likely to end up building Dyson swarms. This is a long and complex discussion. There are many objections but those objections tend to suffer from the problem that, if that objection is true, there should be more not less starfaring life (eg any form of FTL).
If matter is the ultimate limiter to civilizations then it makes sense that civilizations will try and amass as much of it as possible. It doesn't matter if not every civilization goes this route because even one such galaxy-spanning civilization within a million light years will stand out (based on the IR signature).
Even without that it probably wouldn't take more than about 10M years for humanity to colonize the Milky Way.