Not necessarily, it could be because of lots of different reasons. Are your title tags, headings, keywords, content all in place? Also, some backlinks take a while to start working. You might want to post what you have tried.
Not necessarily. If it has decent content, indexed and is optimised to your keywords it could still be worth a bit. Just because it's not in the top 20 doesn't mean its worthless
I have found there is still a lot of link value in sites not in the top 20. It really depends on the specific sites I suppose, but I have gotten some really good boosts from sites like this that were heavily indexed (2k+ pages) but not high ranking. I would be cautious what you spend on a link from a site like that though, I feel like results will vary.
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