I've been saying this to my co-workers over the past week as I've gotten into modern day assembly (ARM, but still): It's basically a high level language at this point! It's amazing how much structure you can actually give yourself with modern tools.
As mentioned by agumonkey, it feels a little bit like Forth.
In fact, I seem to recall a rather excellent tutorial on 68000 assembly featured very similar structure (even if I never finished it -- at the time I was defeated by my own bugs and the fact that those bugs, without an MMU or memory protection, could easily crash the entire machine. It was rather demotivating...).
For another example, see the original source of Apple II DOS, posted here a while back:
http://www.computerhistory.org/atchm/apple-ii-dos-source-cod...
Fundamentally I don't think the structure of the code is all that different? (Please correct me if I'm oversimplifying, or missing something).
Like a compiler? >:)