I still use the Codex as one of my main resources. It is definitely difficult to get started using the Codex, but once you're used to the structure (and once you realize Google provides a better search than the built in search) it can be a valuable resource. Rather than doing away with the Codex, I would like to see better management and more control of users. I might even like to see Automattic hire a "gardener" to prune and water it full time. There is a wealth of WordPress information in the community. If we could only organize it better, the Codex would be an amazing resource.