The view OP presents is a bit grim though. Most of the real "modernity" of the '70s was not something regular people would enjoy. Going to the Moon, or the Concorde were no different from today's fusion experiments, including the fact that they were based heavily on "earlier work".
Perhaps society decided to turn that progress into something a regular person could benefit from. Think EVs, or a network of internet satellites, work from home (and everything supporting that), getting all your shopping delivered at home, all the virtual "networks" (I don't mean FB here, any networking possibility) you can imagine, and all the knowledge now available from the comfort of your own personal pocket device. There are also plenty of social movements and evolution, think on the line of equal rights, that may have been rooted in the '70s but were completely in the realm of the implausible until the last 2 decades.
Of course people no longer see that as evolution and modernity because so many were born into them already. They look like normality.
And even the "modernity" that was available to normal people in their daily lives was mostly for the sake of the looks. I lived in some modern buildings of the '70s (not unlike the one presented in the article) and that wasn't modernity, it was creativity and embellishment mixed with a lot of impracticality. They were more art than practical creation. The result of the same current that gave birth to The Jetsons a decade earlier, just put in tangible reality in the '70s.