Web of Trust is still used in small, focused circles, for example kernel.org developers: https://www.kernel.org/doc/wot/
It seems like everyone is trying to find a way to make a global trust network (keybase, LinkedIn, etc.), when all you need most of the time are small circles of trust (dev groups, activism organizations, etc.).
I think the decentralized nature of WoT is actually a better way of structuring things, since it makes mass surveillance much more difficult.