Why does new iron lack the style of old iron?
imo, goes back to the first machines, beginning of the industrial revolution. Ask someone to do a drawing and likely their background was from architecture, maybe furniture (what else was there?). So you got these great looking early engines where detailing, proportions etc were deeply ingrained skills in those who designed/drew them. Fluted columns, finials, pleasant proportions, ornate details etc. Once we realized form should really follow function, they've been getting uglier ever since.
Thing is, we're still human (all of us here anyway, I have my doubts about most the rest of the world) not robots, and using nice looking stuff is, well, nicer.
A beam engine from 1832.