The security level of a chip card is much greater than that of a stripe. The latter can be scanned by a machine that is out of your control. The chip card is more advanced in its technology and cannot be copied while the stripe has been compromised. In that sense it has become "antiquated". Credit card fraud is a serious issue and stripe-only cards are at greatest risk.
OK, what about the risk that with virtually any POS, the chip can be easily bypassed without even the merchant realizing it many times?
(insert a non chip card 3 times, potentially a real one, then swipe the fraudulent one when the machine says 'chip error: use magstripe'. This has been true for BOC/HSBC machines in HK and TD/Moneris/globalpayments machines in Canada.)