It's still true today

“Heav’n has no rage like love to hatred turn’d,

Nor hell a fury like a woman scorn’d.”

William Congreve, The Mourning Bride (1697)

It certainly looks like PKI's time has past. Outside governments, very few organizations still use the technology for anything other than SSL. PKI probably peaked around the time of the dot-com boom, and has been on a steady decline ever since.

Most of the people who worked on the technology during the boom and were its biggest supporters have moved on to other things. Many of them are also now outspoken critics of the technology.

Maybe the words that William Congreve wrote over 300 years ago predict this.