Design agencies still do design-for-print, but there's usually an integrated workflow of some kind which means web and print assets - including styles - can be shared and reused.
It's a long way from the blocky output of a 300dpi laser in the early 90s assembled on a PC running a $50 DTP suite.
The sad thing about Postscript is that it could have been the foundation of the web, which would have made web and print integration much simpler and design more straightforward and consistent.
Instead we got the sprawling incoherent catastrophe that is HTML/CSS/js for the web, PDF for most other document-ish things, and Epub (which is a dumbed down and DRM'd version of HTML etc) for digital book publishing.