The time might be now. Canon may see this in their demographics. It's likely that Canon recognizes their future customers grew up with smartphones and don't use menu based systems. They consider them archaic and will not buy a product that doesn't have a modern user experience. Which explains why Canon might choose to support both interfaces for a while.
Settings are settings. There's no way around menus and nesting in settings.
These are iPhone settings. Nested menus. Is the iPhone archaic?
so having to scroll through a long vertical list is modern? Most people have to google how to change a given iPhone setting.