The issue with the F-4 is that it was developed before
energy-maneuverability theory was established so it ended up in a lot of engagements it was poorly suited for even though it was quite fast. That's why it's long gone while platforms that aren't
that much newer, like the F-15 and F-16, have demonstrated impressive longevity.
Speculation, but with technological progress leading to a considerable increase in missile range, particularly with ramjet missiles like the
Meteor, something like it might be more useful today. Though of course, there's also a much greater emphasis on stealth, where it wouldn't have much to contribute.