I agree that he isn't consistently the best player in Real Madrid, but I'd only put Ronaldo and Marcelo above him. Ramos is super inconsistent (he shows in big games, but sometimes he costs the team in others, Modric at least will rarely lose you a game) and Bale has been a non factor too many times.
For the last 9 years, Xavi stopped being elite and became a liability in big games around 2012 (teams exploited his legs being gone, harshly), that's barely 2 seasons from him to be considered a top player. Iniesta had more time at the top, but since 2014 Modric has been consistently better every season, in the global of this decade, Modric is the best midfielder I've seen play due to level and consistency.
I won't argue against a wall, you've been saying for months Kroos is super overrated, now that we talk about Modric suddenly Kroos is the one that carries weight in that midfield.
If you want to see the most flagrant example, watch again the 2nd leg of the 17' UCL Semis, Atletico score twice in 16 minutes, the ball starts burning for Madrid players, and Modric appears, starts winning the ball back, finding every good option and dribbling in midfield until Benzema creates the goal that gives them oxygen. In that leg,
what Modric does (small example) is as important as Ronaldo scoring 3 for Real Madrid in the 1st leg, yet I'm not asking from people to praise him in the same manner they did to Ronaldo but that difference also translate to how some players are perceived for individual awards.
Or maybe you're going to tell me it's easy to live on the edge vs Simeone's Atletico, and end up unscathed with 9 dribbles and 93% pass completion?.
Dominating the midfield doesn't only mean getting into 60% possession for your team, just winning the midfield battle, Modric usually does that every game. He defends, passes in short and large range, creates chances and dribbles better than 95% of the midfielders he confronts.