The exams are following a career or job role based path.
Apparently, Microsoft sees a Windows Server administrator type of role as something the market is shifting away from. I see this in the enterprise completely, as anyone touching Windows Server services isn't spending most of their time there. It's all towards or in support of Cloud services. So it makes sense from that perspective. Someone who specializes in AD and associated services will, at least in the enterprise, spend most of their time with it in support of cloud services... making it work with Azure AD, other SaaS integrations, SSO, federation, MDM (LANless based), etc... you get the idea. That can basically be said regarding any traditional Windows Server based services.
However, I do see the point in that many SMBs only have a few Windows Servers and needs someone who specializes in basically what the old Server 2012-2016 server infrastructure MCSA/MCSEs covered because that's all they'll do there. But for how long? Who knows.... but what matters is that you realize what it is you want to do and how long you want to do it.
The market has been, and is, shifting. Embrace it now to stay ahead, move away completely from MS, or play catch up later. Up to you.
The new Azure role based certs have these levels:
Fundamentals
Associate
Expert
Specialty
And what they cover reflect the job roles in the markets Microsoft obviously makes the most money from, future thinking in mind. Could they update the Server Infrastructure MCSA/MCSE path to 2019? Sure. (but what you are thinking of in those BARELY changes... most that stuff is the same as it was since 2008R2!) Even with 2012 R2, in those cert paths were starting to get a little "Cloud-y" back then. ESPECIALLY with 2016. At some point, you need to draw the line and cut them away. And in Microsoft's eyes, that time has come, I see it too, as well as many others.
Maybe Jim-Bob working at Kathy's Suburban Dentistry who keeps their 15-device Windows environment running on the single Windows Server they have in the closet may never see anything for awhile. But at some point, he may need to configure their new Dentistry SaaS app authentication via AzureAD from AADSync or some other means. Maybe not, but just trying to make a simple point. Or better yet, he may not even want to be there long enough and wants to move on to greener pastures.
But really, that's not what MS is creating their Certifications for. There's a much bigger market than that, and it totally makes sense to do what they are doing.