Focus on building high-quality links from websites that generate authentic traffic for your main keywords and LSI's, and use 2.0s for brand name/naked URLs.
I think link building will never die because if it was all about content then everything could be much easier because with content you have limits just write high quality content and then someone will write better until what? Until you reach 100k words in one article, or to give all the information with external links and pictures and headers and so on? Or if your website is opens in 0,5 seconds faster than your competitor means you must be higher? Until someones website opens in 0.0001 seconts? then what? Or if someones website has more pictures thank yours means he should rank higher, so add 1m pictures and be first in google? Thats anoying. So link building is the most important factor to rank a website because it hasn't limits and that means you need always build links to keep the rankings high.
Yes indeed it's worth it because all we are doing is accelerate the process of better our rankings instead of just relying on the possibility that someday some website will link-back to our content.
Links keep on being one of the main ranking factors, they can not only provide you with improved positioning in the search engines but also referral traffic, links are the only way of showing the internet that your site exists, the more links you have, the higher the chances that both search engines and people will see you, while quality content will make search engines and people actually want to see you.
Please understand the Google Vision in the long run "Content Organisation". Link Building from the niche sites can boost your rankings. It is really really helpful.
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