Rightly or wrongly, we reserved physical punishments for dangerous situations. For example, running into the road when told not to. For running into deep, wavy water before being adequate swimmers.
A good spanking is benign compared with drowning or being hit by a car in a parking lot. Conflating punishment with abuse is an unfortunate thing.
However, we were of the generation of gentle rather than authoritarian parents. Probably not the best. Now, I feel the youth need some fear of parents because it is parents' job to represent reality before the kids hit real reality.