Yeah, with the lab tests available now, the two finger exam is essentially obsolete. It has merits still under specific circumstances, and if you don't have easy access to medical care self exam of the prostate can detect changes that can signal a need to find a way to access some kind of doctor. That's best done maybe twice a year since you don't want to forget what your normal prostate state feels like.
Waaaay more precise with the lab tests though. And, iirc, far more likely to detect anything cancerous early, as it can be months to years before changes are palpable, but the lab tests can detect things earlier than that.