No, there are a bunch of places where it doesn't matter as much because digitisation means searching is unnecessary, but when it matters, it still really matters.

In my music player under artists The Chemical Brothers sorts with Chvrches not with The KLF.

Human indexes are still really valuable in reference works, maybe we're getting close to AI making a useful stab at it, but pick up a copy of K&R and compare most auto-generated indices (if you can find a book that even bothers with an index) today, it's night and day.