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Does blog commenting still an effective link building technique for SEO?
Still efffective. but manual. because look natural.
Yes. In general blog comments are used for tier1-3 websites.
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As long as the blog doesn't have to much outgoing links (spam comments), the blog is on-topic and your you don't over do it/ It is still an effective link building technique
Especially when you are commenting on a popular blog, the backlink you leave there has a greater chance of bringing you traffic. With the thousands of readers of the blog, some of them may notice the comment that you made particularly if it is interesting and with substance. With that, there is a high probability that they will click on your link just for curiosity. It’s like asking, who is this guy who made this nice comment. And if your website is interesting then you have an added captured visitor.