Cutting mids is still a thing with bass -- of course it depends on the bass and the rest of the signal path. The classic SansAmp Bass Driver DI gets some hate because it has a significant mid scoop when Blend is maxed out, but I know guys who wouldn't run it any other way. Modern pedals do it too: the Darkglass B7K and Tech21 DP3X both have a mid notch/mid cut vibe to them.
I agree that it was a bigger thing in the 80's and 90's. Almost every amp back then had some kind of contour/enhance switch or knob that cut mids. A number of amps (and cabs) had built-in mid cut even when set "flat". Even the grandpappy bass amp, the classic Ampeg SVT (1969), featured its Ultra Lo switch that had a serious mid cut to go along with it's low boost.
Nowadays it seems fashionable to hate the mid cut, but whatever, it's just another tone-shaping option. Mid cut can work great with a mid-heavy bass such as a P-bass, or with any bass if the goal is to leave space in the mix for other instruments... f'r instance a power trio where you want to leave space for guitar and have a "bigger" bass tone. Some talented bassists I know always set their graphic EQs with a U or V shape, and they get great results.
Me... it depends. I play with a variety of bands, from power trios to an 11-member band with horns, guitar, Hammond B3. I go with whatever works... sometimes it's cutting mids, sometimes it's strategically boosting them, sometimes I run flat (though of course flat is never perfectly flat no matter how much you've spent on your rig).