Are affiliate programs still a good way to make money ?
Well that all depends on who you ask. If you ask someone that isn't making money through affiliate programs it's not likely that they'll tell you that it's a "good" way to make money. Now on the other hand if you ask someone that's crushing it in affiliate marketing through affiliate programs then you'll get a completely different perspective on whether it's a good way to make money.
With that said, these two different people are likely to have two different strategies for how they approach their technique to success in the affiliate programs. In fact, you want to figure out what your goals are when it comes to any affiliate program. Are you trying to make money over a few weeks, a few months or for years to completely replace a full time income that you may already be currently enjoying.
Define your goals and your strategy. The conventional wisdom out there that most people do not follow is that you're better off developing a lead capture page to get emails of people that want to buy and are willing to spend money that you can market products from your affiliate program to. Many would say that this works far better than strictly marketing your affiliate links directly.
The lesser of the two strategies will still work, but isn't likely to consistently lead to recurring commissions.
Nevertheless, the short of it is that, yes, affiliate programs are still a good way to make money, but the strategy that you use will define your level of success.