It is sad.
Re: relevance... I don't know. I think there is at least a view that for 'the young people', being gay (or lesbian, or possibly bi) is no longer a meaningful or popular identity. But I think that's a bit based on the too-noisy tumblr-based queer folk: I'm not sure it's necessarily too representative of most newly-out kids.
I think also it's true that greater mainstream acceptance (certainly in London) has made possible meet-ups etc in what are actually straight venues. When I was out on the scene, I was very often meeting people I'd arranged to meet online (gaydar, faceparty etc) so I don't think dating app culture has been the thing here (as is often bemoaned) - that's new for straights, not for us. What's new is that perhaps you might now arrange to meet in a straight bar, and not find that problematic.
I do think it's sad. But perhaps I have little right to complain - I don't think I've been in a gay venue for five years. In my defence, I've scarcely been in a straight pub in that time either, but the truth remains that I'm not actually supporting the gay scene.