modern bacon that is "smoked" just might ONLY have smoke ADDED as a flavoring and not "be" smoked, OR not smoked for as long a period of time. While adding salt and chemical preservatives will enhance the shelf life it will not inherently kill ALL bacteria (see below for more detail/effects).
One other difference from "modern" and "historical" pork products, including bacon but also extended to other products is the method of the production. Modern pork is typically raised on clean(er) food sources and you don't see "toss the household garbage into the pig pen" or pigs roaming the streets picking up food (at least typically). These "older" feed sources might still exist in some areas, even in modern pork. I point this out because certain parasites can and DO exist in modern pork, but are MUCH reduced compared to prior. That being said, unless you KNOW the source, you cannot be sure, and there still exists that possibility of those parasites which heat will kill. This is one of the reasons why pork is cooked more thoroughly than other meats such as those from cattle, sheep, goats or other grazers which tend to NOT eat those items.
Historically cured meats (bacon, ham etc) also reduced the moisture contents of those meats - thus the smoking process desiccated those parasites, and reduced the bacterial "friendliness" of the product - along with the salt, sugar, smoke which were/are added during processing. Note that smoking in a traditional manner (smokehouse) will also slightly raise the temperature of the product as well for a period of time longer than most cooking, but not as MUCH as cooking - and longer than a process which would simply be used to impart flavor.
One other note - smoking (not adding smoke flavoring, the actual process) will also tend to dry out/seal the outer layer making it less "available" for penetration of contaminants such as bacteria, which along with the increased salt in the outer layers also helps.
If you purchase a product, and it is refrigerated, be prepared to cook it. If it is not refrigerated, it might be "safe" to eat but not as tender as cooked.
Bottom line (for me at least) is I never eat meat raw unless I personally prepared it including actually raising the animal MYSELF and processing it.