Defining custom object and passing it into powershell functions

gistfile1.ps1

function NewSteak() {
    $steak = New-Object PSObject

    $steak | Add-Member -type NoteProperty -Name Doneness -Value "Rare"
    $steak | Add-Member -type NoteProperty -Name Juiciness -Value "Low"

    return $steak
}

function AuditSteak([PSObject]$steak) {
    Write-Host "The steak is" $steak.Doneness    
}

$steak = NewSteak
AuditSteak($steak)

This is an old way to create object

If that's the 'old' way, what is the new way?