The realism part is that we probably don’t need something that large but we could probably build something as powerful but at much lighter a weight. The defeatist part is somebody saying...”the knowledge is lost...we can never do such a thing again....bring out your dead...”bong”!
...and stuff!
All of the hundreds of holes in the combustion chamber baseplates in the Saturn V's F1 first stage engines were drilled by hand using a drill press! Can you imagine building something like that, that way, now?
Just going from open-cycle, gas generator engines (which the Saturn V used) to closed-cycle, staged combustion engines (like the Russian RD-180, the BE-4, Merlin, Shuttle, etc.) is a terrific improvement in efficiency. Improved engine efficiency means you can lift more payload with the same rocket. It's a big deal.