Are modern CVTs finally reliable enough to rival traditional automatics, or do they still wear out faster?

It depends. Toyota's E-CVT is actually probably their most reliable transmission ever, up there with the 6-Speed. Their traditional CVT and E-CVT are actually MORE reliable than their current 8-Speed Auto which has been having premature failings on Highlanders and other models like the Lexus ES 350 from 2019 and up. Honda's CVT and E-CVT are also really reliable but less so than Toyota's but not by much. Subaru's CVT's are tricky it seems the transmission core itself is reliable it's the Torque Converter that is the weak link which then kills the rest of transmission. However, this seems to be mostly on earlier models with only a few reports on newer models so time will tell, it does seem like most of the CVT issues have been dramatically reduced now though. Nissan CVT, no....just NO. Fords E-CVT found in the Fusion/ MKZ Hybrids is very stout and not known to have any issues really. Meanwhile Chevy/ GM CVT, they're okay, but not great either, it seems failures are more a mixture of poor quality control at the assembly line and requiring a really tight maitenance schedule that seems to be ignored oftentimes. So generally speaking, yes, but also no, it depends on the manufacturer, CVT's in general require a more strict maitenance schedule than a traditional auto and with many manufacturers advertising "lifetime" fluid, CVT's get a bad rep. In the modern day it depends on which CVT and which auto we are comparing. The ZF-8 Speed Auto? Dead reliable would highly choose over a CVT. Modern Toyota 8-Speed Auto? I'll take the E-CVT. CVT's though are boring, slouchy, and very meh when it comes to fun, so ignore any CVT if you care about fun factor.