I'm not sure what there would be to gain by having the catcher look to the dugout, then to the wristband, and then call the pitch. I'm more inclined to believe that 10 years ago Rice had catchers call the game and now they don't.
I have no problem with the catcher calling the game if that's what a coach wants to do. I just don't do it and don't think I'm depriving my catchers of anything.