The question is not "is it still worth it?" but "is it still worth it for me?"
I can give you all sorts of data/reasons why ALL and AccorPlus is the absolute bees knees of reward/subscription programs and none of it will likely have any relevance to pretty much anyone else because my stay pattern is unique to me.
Or to put it another way I wouldn't go from my own personal experience to making some universal conclusion about the value of any loyalty program.