7:84 definitely had the aim of taking political theatre to the people - spreading political ideas and information in an entertaining and popular format. This approach has somewhat fallen out of fashion, maybe due to the modern mindset that distrusts any standpoint that claims to be the truth.
However political theatre, or politically motivated theatre, is still highly visible, look at productions such as 'The Price of Money' by The Belarus Free Theatre or 'Hope' by Jack Thorne @ The Royal Court.
I guess the question is whether the difference between these productions and 7:84's is that the latter knew exactly to who they were trying to speak and what change they wanted to effect. Today's political theatre seems to sit on a spectrum that runs between throwing your hands up in the air and mumbling 'Oh isn't it horrible' to running around the room, screaming anger at the ceiling while breaking anything within reach. I'm not quite sure what either of those approaches does.