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It still has value as 1) an indicator you can scroll in the first place, and 2) an indicator of where in the document you are.

In fact, I would argue that 2 is the primary use case for scrollbars.

2) is still around though : the scrollbar tends to show up as soon as you start scrolling (... which I guess covers 1) too ?)

1) case in point: Windows 10 Settings