Interesting topic. I think you could get well on the way to produce current sounds using BIAB but I think you'd need to use other software too. BIAB RealTracks and drums are a treasure trove of aural delights but there are some limitations. Obviously you don't have complete control over RealDrums since they are not separated out. You could use looping of RealDrums but you might have to also make up drums in another program - say you just wanted bass drum only or whatever for sections of a song. The RealTrack bass lines are also great but I actually rarely use them as I like to completely control my bass line. Too often the bass lines from RealTracks will be too busy or slightly out of tune or most annoying will have inappropriate octave leaps so ruining the voice-leading. I always make my own bass line using a program like Trilian or Modo Bass. I think bass is increasingly important in current pop and modern country. modern bass lines are often pretty simple but they have to be right and also have the right sound.

So in short I think it is down to the imagination and skill of the user as to successfully using BIAB to produce modern sounding tracks. But I certainly think they can be used in conjunction with other programs to achive very creditable results. You also need to have excellent mixing and ears and the right effects.