I think one kind of modern bard is the humble Game Master or Dungeon Master of tabletop and live action role-playing games.
They create a conceptual world and pose challenges for the people choosing to join them in the oral tradition. They reward great contributions to the story, so maybe there could be an ideal scenario type of thing. The players take on a role of person in the world the GM or DM has created, and move forward in admirable ways, demonstrating their character as they move forward. They might have special skills and abilities, but these are secondary to what the characters achieve within the society of the world they have chosen to play in.