Can modern audience handle a scene like this? It's really hard to say, on its own, no. Attached with a really good story, sure maybe. Though that scene looks rather boring to me, but it could be taken out of context and have more depth to it if I saw the whole story.
It's a matter of numbers and target audience though. Would you be happy being the best at what you do only being able to make films with a budget of $100k because your style only appeals to such a small niche that you need to keep your costs so low to be able to make a profit or break even? Does that make sense?
The money in film making is in the mass market. The key demographic is the under 25 male domain. Not that there isn't money elsewhere, but that's the chased demographic.
What I'm saying is just my opinion, and I'm not saying that I'm right. There are as many different styles out there for as many different tastes out there.
Anyway, take a look at Transformers 2. It's a movie that I personally hate, but from a $200mil budget, it took $836mil worldwide. Glitzy special effects, spiraling, jaded camera work, lots and lots of action, more mistakes and plot holes than you can count, but it still sold lots of movie tickets and got another sequel.
Glitzy special effects, lots of action and a fun adventure sells.
It's about perspective and feel. If you can get the right feel for a movie with 2 cuts, then do 2 cuts. If you need 8 to achieve the effect, then you need to do 8. It's as simple as that. To be successful, you need to get it out of your head of what you want to do and get in your head of what experience do I want to deliver to the audience and what is the best way to deliver that experience. It's not as clear as how many cuts per minute.
Take for instance the Goodfellas Steadycam shot.
https://www.youtube.com/watch?v=OJEEVtqXdK8 A single 3 minute shot. While this is going to extreme, and there are others where shots in other movies that are even longer.
The last thing to pay attention to is the most important commodity in the world. Time. Don't waste their time. Most people want to be entertained when they see a movie. If you bore them, don't expect to build a loyal fan base.