Black and white is all about seeing in grayscale (IMHO) , and some of us have spent a life time working in black and white and don't see it as a model T auto. Color is not so modern it has been around a long time .
Color is about reality and black and white is an interpretation of reality.
Black and white is about shape/form and lighting along with tonal contrast and textures.
Not everything converts well to black and white and it certainly can't make a bad color photo better. With the coming of age with digital everyone talks about which technique to use for coverting, it is rare to hear people discuss thinking in black and white and that happens before firing the shutter.