Bresenham's algorithm as originally designed lends itself well to implementation in hardware, where you don't want a more complex implementation than necessary, so I'd say it still matters…if GPUs bother to implement GL_LINES in hardware anymore.

(I don't know if GPUs bother with it any longer. The OpenGL spec allows but does not mandate a Bresenham-based implementation, so tessellating into triangles is theoretically an option if they can make the diamond exit rule work. Games rarely use lines, but it wouldn't surprise me if they keep the hardware around for CAD software or whatever.)