I recently saw a very complicated screen flow that looks like a subway map in some big city, and different comments about it. As a fan of flow, I want to give my 2 cents here.
For a process with user interactions, Screen Flow could be a very good option. Because it covers the front and back end together, and the famous MVC is done at one time. The development is usually fast, which is very important in today's rapidly changing world. Especially it can build a POC and demo to the client for what can be done in a vivid way. I once built a Screen flow in the first meeting with the client, and it was a pretty awesome experience.
Automatic flow does not have an overwhelming advantage (other than not writing code), but a few disadvantages: low efficiency, no mandatory unit test, more limitations (such as the 2000 elements). But customers still want to use it, I also recommend them to do so, why? Because Flow is the tool matching the idea of "no-code, low-code", which the Salesforce platform has been advocated for many years. It's easier to build, and empower more citizen developers. Of cause, great power brings great responsibility, so an improperly built flow can break exiting functions. That's why I think everyone in the Salesforce ecosystem should learn some flow skills.
Is Flow a flash in the pan? I think at least from the Salesforce roadmap perspective it is not, so if you want a career related to the technical side of Salesforce, you must learn to flow well. Is Salesforce itself a flash in the pan? At least in the past 20 years, it's been a great success. In the next 20 years? Who knows, but I personally think it still is a quite good career choice in the near future. All of the original DJI (founded in 1896) stocks have been either removed or delisted, so good times do not last long. It's unlikely that a business will keep prosperity for hundred years. However, our life span as human beings does not require us to consider that long either.
The focus of learning Flow is to know the best practices, good patterns, and in my opinion most importantly boundaries. What Flow can do, and what it can't do what it can. Flow is not a panacea, nor is Apex. There are always applicable scenarios for different tools, which is why that all-purpose saying "It depends" appears so often. What distinguishes the different skill levels is the ability to fill in the phrase of what it really depends on.
Finally, to take a step back, if you really think that Salesforce will not last long enough for your career, there is no harm in learning Flow, because it is the same basic concepts of programming. Regardless of what tools or language you use, at the end of the day it is always about loop and control flow. If you want to deepen your knowledge, learn design patterns, that is the higher level of guidance, Flow, Apex or Java, is only a tool. However, it's necessary to have some foundation to learn the patterns, and Flow is a very friendly starting point.