Is white balance a thing of the past?

I was working on a pilot for NBC and I noticed that the color temperature on the Alexa was set at 5500 when we were doing exteriors or using tungsten. Is there something in the color correction process these days that I'm unaware of? Do we no longer have to white balance? They were shooting arrilog.
 
White balance doesn't matter when shooting in RAW, i think. But otherwise, even with LOG profiles, we still should do it to avoid trouble in post.
 
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