On price - you are looking at low quantity. Buy a few million of them from a manufacturer, and you will find the 5% ones still significantly cheaper (even at standard temp coefficients and power levels). That's why new 5% and 10% resistor products are still sold.
Note that the second part of the argument was that the quantities needed are low. I'd go even further than the GP: even in the "old days" my understanding is that the number of precision parts needed was very low. Most circuitry is of the "pick a component value in this order of magnitude" variety, even on sensitive hardware. Only the handful of parts where it really matters need precision.
But, whereas previously you might spec 5% for a few resistors and 10% for the bulk, now it's no longer worth the added line on your BOM.
