There are current gen effects, this has been confirmed many times.
Let’s put it this way then: current gen reverbs that take advantage of the newer hardware.
I’m talking about the quality of the reverbs themselves, by the way, and not special fx type reverbs (which I’m not personally super interested in, at least not the types that multifx usually offer)
It’s true that a few years back Helix reverbs got better than they were, and I think it was a huge upgrade, but I also think they were still worse than what their direct competitors (QC, Fractal) offered at the time—let alone what many of the standalone reverb pedals (UA, Source Audio, many of the Strymon algos, etc) offered—and since the last Helix reverb update in 2023 [EDIT: sorry, it was 2021], those competitors have gotten new and improved reverbs, and a whole new competitor with very nice reverbs (the TMP) launched. The QC, which the Stadium is most closely competing with as far as feature set, just added a few more, excellent new ones with their last updates too.
And the Dynamic reverbs and newer spring reverb might be current gen in the sense that they were designed alongside Stadium, and they can sound good, but I don’t think they’re current gen in the context of the market, and the ones aiming for realism often have a pretty limited range within which they sound convincing imo.
There have been tonsss of conversations about this here and elsewhere on the internet though. What it comes down to for me is that if I bought a Stadium, I’d have to grab a Golden or Ventris or something to stick in an FX loop, which is the same place I was at with the previous gen. For me personally, that’s a dealbreaker when the unit itself costs 1800+ USD, and it’s not something I have to say about the other units. So in practice, for me, the reverb is still “last gen”.
It’s not as important to other people though, or they’re happy with what’s built-in, which is cool. I still think the platform deserves a competitive reverb that takes advantage of the new processing power though. That would be awesome, and I’m sure Line 6 will do that eventually, though from what I’ve seen they haven’t hinted at it being a near possibility as of yet (which doesn’t mean anything, of course)
As far as other effects, I think Stadium could have a lot more in the digital stereo delay department, and some better mod effects, but it’s hard for me to criticize that when their biggest competitors besides Fractal have even fewer options there—and of course many of the Helix delays are excellent, and offer things the other platforms don’t like the awesome Glitch Delay.
I think the Line 6 team is great, and I know they’re busy with a lot of other stuff. It’s okay to still wish for improvements in these other areas while recognizing that :)