I guess back in the day, PC RPGs like Ultima were more targeted toward high-IQ nerds, while JRPGs were targeted toward kids or more average adults.
Nowadays RPGs are pretty much always as accessible as the JRPGs of old. Or more accessible, as even random encounters and turn-based combat are increasingly perceived as not streamlined enough.
The question is whether the hand-holding approach makes certain types of games impossible now. For example, if an old RPG derived its appeal from executing successful note-taking, the game can't be made approachable by taking out the note-taking requirement (e.g. with automatic quest logs, quest markers, in-game hints etc) without removing the core of the gameplay.
Though I'm sure there are many other clunky aspects that could be streamlined today without loss.