For now you could take the new conditions and parse them into the old NBT format when applying textures and models, so as not to break compatibility with old resource packs. This would be a relatively simple patch and would allow the mod to continue to work until a decision is reached in sp614x/optifine#7658

This is a good idea

any update on this?

Something like this?

type=item
matchItems=name_tag
nbt.custom_name=Dinnerbone

I think he means to basically ignore the new conditions and instead parse the old ones so older stuff will still work

The problem is that there is no new format decided yet. If anything nbt. is going away and will be replaced with actual components support. Porting between the two however is not a simple task and would most likely break a lot of resourcepacks which is what I am debating on doing.
I'd much rather see optifine spec before moving forwards with this port as the situation is very complicated.

Just be patient.