The reasons that you suggest are certainly relevant to the continuation of this trend in this century, particulary advanced weapons technology. However, other factors also enter. The ideology of democracy, if not the reality, makes the whole population responsible for the actions of their government, this is then seen as an excuse for taking the war to the people. This is also how terrorists justify terrorism against civilians.
I think that's rose-colored glasses. The British during the Revolutionary War often destroyed civilian facilities that manufactured arms and equipment for the Continental Army, for example - so how is that different from bombing a German ball-bearing factory? What has changed over the years is the ability of military force to project great distances via air power into the heartland of the enemy - and with that comes the temptation to attack large civilian populations to crush their will to fight (a flawed theory IMO)...