Static class hierarchy, component based or something else?

Since it seems that TA -> SC -> PA has always evolved and attempted new techniques in programming, like Flow Fields, I was wondering:
What approach are you guys using regarding the game objects?
The old static class hierarchy, which sometimes become a huge dependency hell.
A component based design which seems to be today's regular approach.
Or something new that hasn't been much explored yet.

I read some posts regarding the network engine being based on curves, which I assume that are using function as updates, instead of absolute values. Is that it?