There is still a degree of that, depending on how you structure the application, and how much of it is reliant on your UI layer vs backend business logic.

Xamarin.Forms is their solution - common UI components wrapped in a generic layer.

They have a nice way to blend Xamarin.Forms, native UI controls and library projects that is getting much better, but still a bit of a pain.

They true value in my eye is that I only have to be proficient in one language, and they have very good documentation.

I still need to have a firm understanding of the API's for both Android, iOS, and WinPhone if I want to make a non-Xamarin.Forms application, but at least I'm not mentally shifting between 3 languages.