>>719238250
That's more an issue with modern fantasy writers than the setting itself. One of the issues is that you can't have the same ethnic separation or tensions found in a fantasy setting between the races in a modern fantasy unless you want to insinuate people of various races can't coexist and that racially homogenous societies are the only way to go. While the modern political landscape is now seeing the full-extent of what allowing unfettered immigration can do to a society, one of the core tenants of the modern day is general tolerance for other races and their bullshit.
If anything, a modern fantasy setting where racially pure elves are super rare and the vast majority are either humans, quadroon-elves, and half-elves would make more sense, given how low elven birthrates typically are in fantasy settings. As for orcs, you'd see them go the way of the barbarians of old and having been long-since culturally dominated by foreign cultures, with only recent pan-orcish cultural movements seeing neo-orc communities (think neo-pagans, neo-wiccans, Varg the Orc posters going around saying "stop playing video games," etc.). Alternatively, the orcs have settled into the background as being culturally irrelevant globally but having a strong cultural presence in the lands they live in (i.e. Mongols; largely depends on the geopolitical landscapes the orcs found themselves, I guess?).
Dwarves would ironically be the closest thing to the Japanese, in the sense that they'd probably develop the craziest shit to export culturally thanks to their technological ingenuity that you'd see dwarfaboos or something even in other continents.
As for fantasy races coexisting with magic and modern science also being thrown into the mix, I think it'd largely depend on the setting and how magic has evolved or stagnated since the "high fantasy" era. If magic continues along its own course, maybe a lot of industries are magic-based, with science basically being magic but for everyone.
