I have a brand new Lenovo X1 extreme that also doesn't do S3 sleep anymore. It only has the modern S0 "sleep" if you can even call it sleep... To me it feels more like standby, a real "sleep" does not exist anymore.
Damage to Battery :
I try to take good care of my battery's by limiting the times I go under 15% and over 80%. Thanks to this modern "sleep" (stand-by) my battery is drained to the point the laptop does not even flash leds anymore to indicate it is empty. Battery gets fully drained to 0! Configuring the laptop to automatically go to sleep if reaching 15% or lower does no longer safe your battery not my still open workspace! Going for the option "shutdown" is not working either as often it gets blocked by some application that is asking to safe first.
Every week I'm faced multiple times with dead battery's or a hot laptop coming out of my bag.
Work disruption :
When prepared presentations for important meetings on the evening before, only to find out the next morning that my laptop is completely dead, does not even give me signalling leds to indicate the battery is empty. Leaving me to hassle in front of everyone to find extension cords, start up, open up all applications and demo's again... What took me only 1 minute with my old laptop with proper "sleep" is now eating ~20 minutes if my presentation time.
Advantages of S0 sleep?
While there might be some usefulness to it, like the updates to go happen in the background, some of them are not convincing me.
Take the claim that your PC would wake up faster... I did a comparison between my brand new X1 extreme Gen5 with new NVME SSD and my old 6 years old T450s. The T450s wakes up a bit more then 1 second faster out of S3 then my new X1 does out of S0...
Please give us back a real sleep mode! STANDBY is NOT the same as SLEEP!