LinkedIn can be a gold-mine or a waste-of-time. What are the factors that you should consider?

I am not any huge influencer on LinkedIn, don't even know much about it. I just have a 2000+ followers of relevant network for me (investors, startup founders etc), also tried a newsletter where I quickly picked up 150 followers within a week, and I recently stopped using it completely.

I have verified it myself that LinkedIn can be a great way to get deals and meet new people. Under certain conditions it can be a gold mine:

-Can you find your ICP on LinkedIn?
-Are you fundraising?
-Looking for agencies to cooperate with? (tons of irrelevant copy-paste messages)

Simply said - If you have a B2B use it and squeeze every single penny out of it.

If that's not the case, there are way better activities to spend your time on. You can also try to find mentors and ask people for advices, but in this case it's way better to attend some business events, and just meet them in real-life.

What are your thoughts on this?