I do love a solid buzzkill, there's nothing I love more in this forum. Only because I think I have arguments to counter. When the day my answers run out, I'm sure I'll be upset.
I would argue that A-10s release smart bombs at altitude because of tactics, deconfliction, and (I agree) the threat envelop. A-10 pilots still practice delivering dumb bombs, but current tactics require low CDE engagements in order to reduce collateral damage, so smart bombs are the first way this is possible. By increasing accuracy and restricting ordnance size, collateral damage and CDE can be reduced. "Smart bombs" don't generally lend themselves to low attack profiles, so I would say a modernized Skyraider would do the same. The A-10s still practice (and employ) utilizing their gun, which must be in the generic surface to air envelop, as would the A-1. This issue is not always the first resort, but nevertheless a logical one when the threat is low. So, in order to utilize weapons of this nature, or fly lower profiles needed for terrain masking (on infil or exfil or radar evasion), a proper LAIRCM with flares, ALQ pod, and chaff should provide the needed threat avoidance for most shoulder launched SAs. Aircrews are briefed about threats before they fly and employ tactics needed to minimize the threat and maximize their success...with this being said, I am not advocating low level engagements in a high threat SA environment, at least with radar guided SA capability.
With the advent of sensor pods in both fighter/attack aircraft and ISR platforms, the former route recce and enemy identification that required <5000ft AGL flights are now performed from much higher altitudes. This allows positive identification,while remaining outside most threat envelops. This is not to say that A-10s now (and a modernized skyraider) won't fly low in order to accomplish their mission, it simply affords them different opportunities that were not available in the past.
On the order of comparison to helos, an A-1 employed at altitude with a modern turboprop reinforced with modern armor around the cockpit and engine could serve as well or much better than a helo in the same threat envelop. The mission requirements and execution would be performed differently, but the A-1 would be faster, have a more difficult IR signature to lock onto, and be more maneuverable in addition to having the capability of carrying an EW jamming pod like other modern aircraft carry.
Concerning your last argument, we will alway need ground support aircraft. As an Air Force, this requirement is not clear, but the requirement whether unwritten or unstated remains. Yes drug lords do not often employ the greatest firepower, but neither does the enemy in every sector of a major battle. In the areas that superior firepower exists, superior fighter aircraft will be used to exploit it and suppress it.
This drives me to another point which I did not mention when I started this thread. I didn't want to get into the weeds of my thinking, since I didn't want to stifle or stovepipe discussion, but...Let us think in terms of specialized use by a highly trained individual. I'm not talking about standard US military pilots. I'd like to think in terms of a modernized skyraider in limited number (1 squadron) used to support Special Operation Forces. This stems from several things that I won't bring up here, but originally used by Air Commando Squadron and Special Operations Squadrons in Vietnam. Granted, they were used for Sandy's, but they offered on-call persistent support for small teams of SOF. A modernized skyraider would (could) be developed to operate with minimal footprint (unorthodox in today's Air Force but it is happening as I type) of logistics, maintenance, and aircrew, while being placed in direct support of SOF. This forward deployed unit would be capable of supporting multiple facets of the mission while supporting a ground user and reducing transit and response time. If you'd like more clarification/thoughts/philosophy on this, I can try to go into more detail. BLATE (Bottom line at the end): a modernized, flexible ground support aircraft with high loading capability and the ability to employ an array of ordnance from surface to approx 30K' would greatly increase SOF sustainability, flexibility, and survivability.
OMP