From what I’ve seen recently, programmatic SEO can still work, but the approach has changed a lot compared to before.
Sites that rely purely on mass-generated pages with thin or repetitive content seem to struggle more after updates. On the other hand, projects that combine scalable templates with genuinely useful data and unique value still have a chance to perform well.
I think the key now is making sure each page actually solves a specific intent, rather than just creating pages for keywords. Internal linking, content quality, and keeping things updated also seem to matter much more than before.
So it’s not dead, but it definitely requires more thought and quality control to be sustainable.