My take on this is a little less optomistic, though I'm pretty sure it will improve.
A solid electric bass is probably a fairly predictable sound, so relatively easy, but even then, slaps and percussive effects may sometimes be difficult to attribute to bass, rather than percussion.
It's so refreshing to read the perspectives of intelligent people who can actually comprehend this thread and converse at an adult level. You and AudioTrack are among those that have a strong set of healthy brain cells, keep using them

Yes, percussive slaps and other musical elements (including musical "liberties" taken by the musicians) can certainly make it challenging for an AI to "properly" separate the bass stem. But remember, it doesn't have to be perfect, just good enough.
Google DeepMind founder Demis Hassabis has won a joint Nobel Prize for Chemistry for using AI to predict the structures of proteins. The potential impact of this research is enormous. Proteins are fundamental to life, but understanding what they do involves figuring out their structure—a very hard puzzle that once took months or years to crack for each type of protein.
So if the difficult protein-structure problem has largely been cracked, how hard can it be to extract the bass stem from a song by
The Fortunes, especially if it has a knowledge of how good bass players play bass?