Yes it is still around, usable, and used.
Subjectively, more sites block it now mostly through their CDN (Cloudflare or endless Google Captchas or whatever), but by and large it's still very, very "usable".
Just my opinions below, please feel free to school me. I think the "benefits" are theoretically twofold still, same as ever was:
1. I think it's safe to OPERATE on the basis that it's compromised or heavily subject to attack somehow, just like anything online. But I think it's still at least another LAYER of obfuscation or headache or whatever, in theory, at least for basic marketing annoyances and the like. Yeah, maybe it's largely pwnd, I have no way of knowing that for sure. Or maybe there's AI and timing attacks that are really good, I don't know, I see gross incompetence in some places and apparent competence in others, so no idea on this area. And maybe you need JS off which most sites fail on. But it's at least not making IP fingerprinting easy or giving in to another more-pwnd commercial VPN providers, etc., etc. etc.
2. IMO, a big altruistic reason for using Tor browser, would be that one helps the people who actually need it (say, dissident journalists in developing nations that lack freedom of speech and rule of law) get the "cover" that they need to avoid unfair treatment, by creating enough noise/traffic to get lost in, or something.
What'd I miss?