It depends on certification, its level, market demand, scarcity of specialists.

I am currently preparing for AWS and GCP architect/engineering certs and I find preparations as some way to solidify my years of knowledge and experience in the field. I think also certification is good way to be recognized in consulting market, especially as I work remotelly from nearshore country.

My friend last year obtained AEM Developer certification and with proper self-promotion he got flooded with queries and his rate doubled overnight. He got years of prior AEM experience.

I find popular certs like Scrum or entry Java certs valuable today mostly for junior level specialists to get foot in the door easier. However for experienced engineers a proven track record and a network is more benefitial.

Also, some big companies and govement agencies recognize or even require contractors to be certified in given technology.

Do you think AWS certification can help the fresh cs grads to get job?

Possibly. But even doing training with exercises or a pet project on the platform should teach one some valuable stuff.

There are some certifications that do appear to provide real value: the Red Hat certifications and the PMP certifications come to mind. I've also heard that the Microsoft certifications provide value as well. These are typically certifications that you do need to study for and probably spend some time learning new subject material. I do agree that many if not most certifications don't provide much value.