Class component is still fully working as of latest React and won't be going away (at least according to the React docs). The main issue is when you work on a codebase that's full of function components and hooks it's hard to mix in class components.

I really liked the old model where Class Components were used when there was state, and function components were used when there was no state.

Hooks have always seemed so weird. And turns out it's the same for many others.