> Who thinks in terms of CPU registers these days, for instance?
The people for whom it makes sense, same as the people who think about RTCs or deep sleep modes or programming single-board computers to read temperature sensors.
It isn't like the low level has gone away or become completely inaccessible. It's that now we have more options to write working code, and we can optimize for things beyond cycle-level and byte-level efficiency. Optimizing for readability, for example, wasn't really an option when all of the readable algorithms were unacceptably slow due to constant terms.
Breaking every rule about data-hiding to get somewhat better constant terms in the big-O analysis isn't virtuous, it's just what was forced on us by insufficient hardware.