It's now only used as a tiebreaker to determine seedings among teams with identical records. First tiebreaker is head-to-head record. Second tiebreaker is division winner. That's it.

http://www.sbnation.com/platform/amp/nba/2015/6/25/8848429/nba-playoff-teams-will-now-be-seeded-1-8-regardless-of-division