Much of modern Evangelical Protestantism not only has a very low, anti-biblical view of ordinances, but they are also worlds apart from much of the theologies of the Protestant Reformers themselves. For instance, John Calvin in his Short Treatise on the Supper of our Lord, wrote the following about how essential it is to have a proper understanding of the Eucharist:
However, as it is a very perilous thing to have no certainty on an ordinance, the understanding of which is so requisite for our salvation . . .
Can you imagine a modern Evangelical stating this? Instead, they (incorrectly) claim that the nature of the ordinances is a "minor" issue of disagreement between fellow Protestants (baptismal regeneration is another one, notwithstanding [1] such effects salvation and therefore, the gospel itself and [2] the explicit teaching of the Bible, such as Acts 2:38 and 1 Pet 3:21 which affirm this doctrine).
If Calvin or the other Magisterial Reformers or their followers were to be transported to a modern Protestant church, odds are high that they would be deemed as a heretic. Much of the blame is due to the doctrine of sola scriptura, but that is an issue for another time (click here for articles discussing the biblical and historical evidences against this doctrine).