I think some recent changes went largely in favor of Tradition and it makes the tree much more engaging imo.
The power projection problem of Tradition has vanished quite a bit I'd say. I'm not totally affirmative since I didn't play a lot recently but my last game with Venice (tradition->statecraft->industry->freedom) has seen me projecting force all over the world efficiently from late renaissance early industrial. It's true you often have to commit to one side (either land or naval) but in the late game I have well over 100 supplies and my army is second in the world (I have picked up some puppets and vassals on the way). I have three navies, each dominant in their respective area and a small but experienced land force that is enough to manage my neighboors. It's true I got the Great Lighthouse and I picked the Arsenal of Venezia as my NW, so it's not the traditional Tradition play (but I'm Venice so...).
To me the main problem with tradition was not the supply limit but the experience of your army and the strength of cities. By playing mostly defensively you could never gain XP fast enough to project power efficiently, especially since capturing cities was such a grind. But now the cities are fairly weaker (which is great!) and the rework of the "capture X city" from city state is a huge boost: the quest (if I understood correctly) is set to assign you to conquer the closest hostile city. It makes it much more achievable. And once you start triggering the quest 2/3/4 times you get enough "free XP" for all your units to be level 4/5/6. You now have a small but very experienced army/navy that is quite efficient at projecting power quickly and efficiently. All of that without ever declaring war yourself.
It's still true I guess that if you play like a sitting duck never doing more than hiding on a citadel you are powerless if an AI becomes arunaway but that is a trade off you made implicitly in the first place.
The power projection problem of Tradition has vanished quite a bit I'd say. I'm not totally affirmative since I didn't play a lot recently but my last game with Venice (tradition->statecraft->industry->freedom) has seen me projecting force all over the world efficiently from late renaissance early industrial. It's true you often have to commit to one side (either land or naval) but in the late game I have well over 100 supplies and my army is second in the world (I have picked up some puppets and vassals on the way). I have three navies, each dominant in their respective area and a small but experienced land force that is enough to manage my neighboors. It's true I got the Great Lighthouse and I picked the Arsenal of Venezia as my NW, so it's not the traditional Tradition play (but I'm Venice so...).
To me the main problem with tradition was not the supply limit but the experience of your army and the strength of cities. By playing mostly defensively you could never gain XP fast enough to project power efficiently, especially since capturing cities was such a grind. But now the cities are fairly weaker (which is great!) and the rework of the "capture X city" from city state is a huge boost: the quest (if I understood correctly) is set to assign you to conquer the closest hostile city. It makes it much more achievable. And once you start triggering the quest 2/3/4 times you get enough "free XP" for all your units to be level 4/5/6. You now have a small but very experienced army/navy that is quite efficient at projecting power quickly and efficiently. All of that without ever declaring war yourself.
It's still true I guess that if you play like a sitting duck never doing more than hiding on a citadel you are powerless if an AI becomes arunaway but that is a trade off you made implicitly in the first place.