At my first employer back in 1986 we already did all SMT. But we were early adopters and that wasn't common in those days. With wired caps things are different. A multi-layer SMT is essentially a whole lot of smaller caps stacked in parallel, like a high-rise building with its umpteen floors.
It can work but iffy. Because in the end the inductance is what limits the effectiveness of bypassing and that strictly goes by size.
It's a sure-fire way of telling something oscillates, usually. But amn easier one is to slowly crank up the supply voltage and watch an analog ammeter. There will be a sudden jump.
I think the main problem is the missing decoupling at R2. There's a lengthy trace in series with it and that forms a resonant structure, peaks the gain at a very high frequency. That's usually where it'll oscillate.