This 100%. Don't waste time on linkedin. Online networking? Sounds like BS, sounds like another self help book, or some dumb TedX talk that says you aren't successful because you cross your legs when you sit. It's all nonsense and BS.
There's a sector of society that is conned into believing the white collar koolaid and LinkedIn is the social network for that. Anyone who's really doing anything doesn't spend time there, ime.
Meanwhile, I've been an active participant in many other online forums for decades, from old-school Usenet to HN. The opposite of everything I wrote above about LinkedIn applies with many of these other forums: I have enjoyed countless worthwhile discussions with interesting and/or professionally relevant people, replies or private messages I've received have been genuine and relevant, from time to time useful opportunities have been found for me or someone I was talking to, I've often found external material via those forums that was interesting or informative, etc.
So am I bad at online networking, or is LinkedIn just a bad forum for useful online networking? IME, it's very obviously the latter, and that doesn't appear to have changed much during the extended period when I wasn't using it. The more I write here, the more I think it's time I got around to deleting that account (again).