Absolutely: "good software" has to be useful for its intended purpose. Lynx may be well-written, but it's useless if you want to do most things on the modern web: it just isn't capable of doing them. If you want to use a web browser to, for instance, use your bank's web interface, a buggy browser that can do this is infinitely more useful than a non-buggy browser that simply doesn't have the technical capacity to do so.

Is the intended purpose of Lynx to access the "modern web"?

+1 it worked well when I required it, eg: reading manuals while recovering a system that lacked a GUI