I think so yeah – although I don’t use it as it’s not helpful for my line of work. My wife was made redundant in a site closure, so a lot of people laid off at the same time, and they all found it genuinely useful, used it as a sort of support network for finding new positions. Maybe that’s a slightly unusual example though.
See what people in your line of work are doing with it. If they’re just dicking around making random connections then it might not be worthwhile – if it’s really moving people around then worth taking seriously.