Do PBX still exist?

In today's digital age, with cloud-based communication systems and VoIP technologies dominating the market, one might wonder if traditional PBX systems still hold a place in the world of telecommunications. Are these once-ubiquitous systems still in use, or have they been completely phased out by more modern alternatives? With the rise of remote work and the need for flexible, scalable communication solutions, it's natural to question the relevance of PBX systems in today's business landscape. So, let's delve into the question: Do PBX still exist, and if so, what role do they play in the modern telecommunications ecosystem?