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pemerton, I understand that you are talking about encounter design. I am not misunderstanding your point; I just strongly disagree with it. I think you're mistaken on two counts: you're overestimating how forgiving AD&D is, and you're underestimating how forgiving 5E is.
On the first count, you've acknowledged that AD&D could and did throw encounters in your face that would certainly kill you if you tried to tackle them head-on. (Twenty kobolds, a tribe of a hundred orcs, etc.) This was exacerbated by a number of AD&D-era rules which made disengaging from combat difficult compared to 5E (e.g. turning your back on an enemy not only gave a free attack, it was a free attack with a
massive bonus; and sneaking was far less effective than in 5E unless you were fairly high-level already or you hyperspecialized).
On the second count, we all play 5E so I don't know how much actually needs to be said, but consider if you will simply the impact of mounted combat on 5E. A first-level PC with a longbow and a horse can slaughter nigh-unlimited quantities of orcs or hill giants in open terrain until he runs out of ammunition; that would
never happen in AD&D. Combat As War works terrifically well in 5E specifically because there are so many options and exploits available for you to leverage and because (MM) monsters are quite limited in what they can do. Whether you want to exploit Sharpshooter + caltrops or Fog Cloud + Cunning Action + Stealth Expertise or Planar Binding, it's all available. Even something as simple as the Dodge action opens up possibilities. Consider your hypothetical Hill Giant vs. 3rd level Fighter scenario--if the Fighter has buddies with ranged weapons, he can Dodge with his own action with
no loss of offensive effectiveness whatsoever while also halving the damage he takes from the hill giant. Either the hill giant takes the bait and tries to bash the fighter at disadvantage while everyone else pours on the ranged attacks, or the hill giant ignores the bait and pursues some other PC, which gives the fighter the same 1 attack he would have gotten against the hill giant if he'd decided to Attack instead. In short, there is no reason for the fighter to Attack the hill giant at all.
Four 3rd level PCs vs. a CR 5 Hill Giant is a perfectly winnable fight. Possibly moreso in 5E than it would have been in AD&D (2nd edition); certainly not much less so.
AD&D assumes that the players will not have to be swarmed by the kobolds, but rather are able to control the terms on which they encounter them (eg by successfully scouting; by bribing or otherwise influencing sentries - hence the reaction roll mechanic as an alternative to "everything automatically attacks"; etc).
Once AD&D scenarios began to be written which eschewed these rules and guidelines favouring player control of pacing and encounter numbers, and assuming that the GM would exercise control over these things, the game started to break down, because it didn't have encounter building guidelines; and the solution the system offered GMs was to fudge dice rolls.
That's an interesting historical perspective, and the causation you posit is plausible, but it's not relevant to 5E unless you're trying to play that kind of DM-controlled game. And you don't have to, at all. 5E is perfectly friendly to Combat As War and player-controlled pacing.