Years ago I worked for a company that had a PCB production line, and even for relatively low volumes (compared to consumer electronics) they used basically that exact process. The PCBs would be printed elsewhere and delivered in flat stacks, the boards would go through pick-and-place, solder bath, reflow, through-hole, wave solder, sometimes xray inspection, etc. Also had a tour of an Iomega plant when I was much younger with similar processes.

Not sure if NeXT was a pioneer in those techniques, but they seemed standard by the late 1990s and 2000s.