That has been the design language for the last few generations, yes. The larger GPUs often created a dual chamber situation which meant the GPU started recirculating the air in the lower half of the case. Since relying solely on the rear exhaust capacity of many GPU designs is insufficient to remove the heated air, it is a decent compromise.
Blow through designs take it directly to the rear exhaust fan which is typically in place. Additionally, so many enthusiasts build with AIO these days that some airflow is better than nothing, even if it is warmer air, to help keep the motherboard VRMs cooled. Top mounted AIO or top mounted exhausts fans are also good for this.
People tend to think about heated air/heated water as a problem. It really isn't as long as it is moving it can still absorb more heat as long as it is cooler than the thing it is passing over.