If anyone is curious, I think this is referring to dispensationalism (https://en.wikipedia.org/wiki/Dispensationalism https://en.wikipedia.org/wiki/Dispensation

If anyone is curious, I think this is referring to dispensationalism (https://en.wikipedia.org/wiki/Dispensationalism https://en.wikipedia.org/wiki/Dispensationalism), which is indeed a relatively new phenomenon compared to covenant theology. It's interesting how much it's caught on in baptist and non-denominational communities in particular. Most reformed (calvinist) evangelicals are still very covenantal in their theology, but even they seem to be less strict on it than they used to be. Mainline protestants are pretty uniformly covenant theology as well.