>Why can't phones use this "outstanding" innovation from 60 years ago?
Because it requires too much space. It works on watches because they are small, if you tried to screw in a phone back plate with 4 screws, it wouldn't seal at the sides, as pressure is too low.
>I'm sure the likes of Apple, considering their enormous R&D budget, can figure it out into a modern solution.
They already have found a way to tightly and reversibly seal a phone, which allows for repairs of components and is low cost. It is called glue and pretty much the optimal way to seal a phone.