And technically while some people do call it MPEG2, it's actually MP2, also known as MPEG-1 Audio Layer 2, an audio codec in the same family as MP3 (MPEG-1 Audio Layer 3).
I imagine that today they'd probably use something like Opus and a fountain code or similar, yes... But you can't expect everyone to replace their radio every 10-15 years ;)
Certainly not, which is why I believe DAB (no plus) is still floating around. And I'm not really suggesting that they made a bad choice.
I'm mostly pushing back on the notion that digital means all or nothing audio. If broadcast audio stays alive (which it may not) then I hope the next standard is opus, fountain codes, and QAM-64 or similar so we can stuff a bunch of bits into error correction while still having graceful degradation, better than analog, when the signal degrades.
Though I did a quick check and apparently DRM+ uses QAM-16, so perhaps my knowledge is far too out of date :S