First off, NEVER stop asking 'can it be done better?'
That's where innovation and improvement come from.
However, I wouldn't call packing 'primitive'. I'd call it 'simple'.
Canopy opening is a dynamic and very chaotic process. Keeping the packing as simple as possible reduces chances for problems.
The D-bag is the size it is for a reason. They are sized to the container. They have to hold the canopy securely enough so that it can't shift around.
Rubber bands are simple, consistent, fairly reliable and cheap.
There are a couple alternatives to rubber bands. Silibands and Tube Stows were popular, but I haven't really seen them much in a while.
Stowless is a good alternative. I know a few folks who use that. There's a bit of 'institutional memory' that is against it, but one thing to know is that just about every reserve is a 'stowless' setup (so you do have them at your DZ, just not readily visible).
Another thing to remember is that a pack job doesn't have to be perfect. Early on, I had a rigger explain to me that packing was 80% psychological. Lines straight & to the inside, fabric to the outside. Slider to the stops & quartered. Everything arranged so that it comes out in sequence and sort of smoothly. Locking stows solid. Most of the rest is to make you feel better (some of it has an effect on 'quality' of opening).
Student canopies are very big. So they are more work to pack (tandems are somewhat similar).
Smaller canopies are easier to handle, but they go in smaller rigs, so the D-bag is smaller.
Getting the canopy in the bag is partly technique, mostly experience. I can't really tell you how to do it, but I can tell you that once you get better at it, getting a sleeping bag, tent, car cover or similar into the storage bag will be a piece of cake.
Same with stowing the lines. You will get better at it.
But, if you can come up with a better idea, one that offers more benefits than drawbacks, isn't more expensive, is more durable, is easier to use but still effective at holding the lines, then go with it.
That's how the gear improves.