ITER isn't meant to be a practical design, it's for research. So it's not obsolete just because it's using inefficient magnets.
https://en.wikipedia.org/wiki/ITER#Criticism
"The project however was significantly delayed at the design stage as result of purposeful decision to decentralize its design and manufacturing among 35 participating states, which resulted in complexity that was unprecedented but consistent with the initial ITER goals of creating knowledge and expertise rather than merely producing energy."
IMO jobs facilitating knowledge, experience & wisdom transfer between so many countries is worthwhile on its own, nevermind that the goal is to help solve our energy problems. If we get experience developing a massive international moonshot program from a jobs program, so be it.
It also says it can be built much cheaper than the total cost for ITER.
The article doesn’t say it, but I would guess that it also can be built for less money than the money needed to complete ITER.
If so, what’s not obsolete about ITER? Are there useful experiments that can be done with it that one can’t do with a more modern design?
Making a tiny machine quickly, skimming over the hard engineering problems is more of a moonshot approach. It's halfway to a startup with actual MIT startups selling HTS coils. Be wary of anyone selling something.