I think we are so far into modern times that we forget that 100 years ago is still fairly modern. Also, when we think of traditionals, we tend to think of a specific type of knife with natural covers, carbon steel, multi blades. Victorinox is traditional, first and foremost by age. Secondly, because it is a traditional pattern. Thirdly, is made in a traditional styling.
Victorinox has just refined and honed in the process so much that is appears modern. Of course, they also do most likely have material upgrades from when they first started.
By the same sense you could compare them to Case, or Great Eastern Cutlery. If Victorinox is not traditional, with all of the history, and design of their tools… you would also have to make the argument for Case since it would essentially be the same argument.
I think you really need to think about what traditional means. For most I think it means historically accurate patterns, and materials that were used back in the day. One thing you could say about Victorinox is they have upgraded their manufacturing over time, and the making of them is very modern. I would say Case most likely has done the same. But no one would call a jigged bone sodbuster jr a modern traditional.
The truth of the matter is all knife terms are a bit of a haze, and everybody online is an expert.