So, if we're not really understanding what O'Sensei was saying, and we're not really developing the internal skills (aiki) that O'Sensei said was so important, and if most of us are not able to dedicate the amount of time to solo training that seems to be required, are we actually doing aikido?
I don't know.
IMO, the answer is:
No ... and ... yes.
Ueshiba Kisshomaru and others who stood beside him changed aspects of aikido for a number of reasons, World War II being a major one. Within that change, aikido went worldwide. And with that, the definition of "aiki" slowly changed.
Aikido became the Hydra of legend. One immortal head (the Ueshiba family), two heads sprouting where one was cut off (splits among shihan), poisonous gas (misdirected statements about the founder's history), and it guards the Underworld (Ueshiba Morihei's aikido).
Today, that Hydra is alive and well with hundreds of heads. There is no Hercules to kill it for the Hydra has done well. There are only Iolaus' to point the way to get around the Hydra and find that which it guards.
It is here, where the Iolaus' have pointed that some have found the way back to the Underworld, or to Ueshiba Morihei's aikido. It is noteworthy to mention that the Hydra is also a part of the Underworld and that without it, finding the path to the Underworld would be a much harder task.
"Are we actually doing aikido"?
No, most are not training in the aikido that Ueshiba Morihei lived, but some are determined to bring it back.
Yes, most are training in aikido as exemplified by Ueshiba Kisshomaru, Tohei Koichi, etc. Shown and trained by tens of millions of people, there is nothing wrong with this aikido.
If you think about it, aikido has become the martial art for the masses and the outliers.