The rogue does respectable, but not spectacular, damage per round, consistently and at no resource cost. They also have a lot of ability to hinder targets in various ways between weapon masteries, cunning strike, and some other subclass-dependent options such as the thief’s fast hands or the arcane trickster’s mage hand ledgermain and limited spell access. These options generally come at a small cost to DPR, so they will be situational, but valuable in the appropriate situations. Out of combat, they have more skills and higher bonuses to those skills than other classes, plus reliable talent coming at 7th level, so even with games typically ending before 11th, you’re still likely to have access to it for at least a few levels.
Exactly how “good” that all looks to anyone will be subjective, and likely dependent on frequency of encounters and typical frequency, difficulty, and consequences for failure on, ability checks. But I think it’s a pretty specific campaign where that suite of abilities doesn’t bring pretty decent value to the party. The pure rogue is never going to be a spectacular damage dealer, and it’s never going to give you a free win on exploration or social challenges. But I think it will be rare that a group is unhappy to have a rogue in the party. They can contribute pretty well to just about any challenge, and never have to expend limited resources to do so. That’s a solid niche in my opinion.
Also, I don’t think we should overlook the value of good gameplay feel. The rogue always has multiple options for things to do with their action and bonus action, and now also has multiple options for ways to hinder a target on a hit. That feels good and fun for a lot of players, which is why the rogue polls so well, even if it’s not topping the charts in terms of pure numbers. They will frequently have the highest bonus on a variety of checks, and so will frequently be called upon to take point in exploration and social challenges. And they have the ability to specialize to get a really high bonus on a particular skill, which also feels cool to be able to do.
The rogue is in a fine place.