Yeah; my old GMC had a carburetor and the fuel economy is the same as the current replacement, which is the same size, runs half the cylinders (unless it needs all 8) re-levels into aerodynamic mode at speed, and has shutters that close the radiator grill when possible. (The new one is fuel injected, etc).
I’m not sure what fuel injectors and electronic ignition got the industry, but it wasn’t real world fuel economy.
Oddly, even current year light hybrids are advertising similar fuel economy as the old truck. I’m guessing it isn’t a technical problem....