Very sad news. Ed Benguiat taught type design at School of Visual Arts in Manhattan for many years (including the time I attended SVA at the end of the 1980's into the 1990's). There are very few people, if any at all, who could match Benguiat for his broad contribution to type in the latter half of the 20th Century. One thing is for sure, I think Quentin Tarantino needs to give Benguiat a shout out for the use of a few of his typefaces for title work in his movies. When I was a sophomore at SVA they had a big show in the student gallery at SVA about Ed Benguiat. Back then (around 1988) I was pretty surprised at all the familiar typefaces he had designed.
Regarding the digs at "modern type designers," I think some of that is a bit unfair. There is an exhaustively wide chasm between great quality and terrible quality digital typefaces. Some modern type designers do great quality work while others churn out utter dreck. Usually you have to pay for the good stuff through commercial sites while the garbage quality junk is often available for free, if even the moderators at Dafont are willing to upload it. There are some exceptions of "open source" type families being good. Montserrat is one example. But normally you have to pay for good quality type somehow.