I think so. From what I gather from people who do use it, it's all about marketplace and business related groups. So it's basically Craigslist and yellowpages for cold calling at this point. These sorts of features simply don't work on their own, real use is what let's you get away with sticking ads in there, if all anyone ever sees are ads they change the channel.

Personally I think all the old guard of social media is dying, and doing their best to hide it. You smell the desperation in their decisions. YouTube, Instagram, twitter, Facebook, reddit, they all seem out of style and things like tiktok, discord and Snapchat seem to be where the hype is. Of course, they're dying at different rates, but they seem to have decided at some point that ux innovation was over, they were done iterating and began to focus on increasing profitability regardless whether decisions improve ux or not, meanwhile new companies began experimenting with different ux approaches and business models. I expect in a few decades it will be common wisdom that social media trends change fast and no social media company will expect to be able to rest on their size and buy up the competition forever.