2 divisions in each league, with the division winners being the only teams in the playoffs. Those days are gone. Now you have 3 divisions and two wild cards. Not long ago there was just one wild card team in each league, and that team went straight to the Division Series (just like all the division winners). So, you’re right that being a division winner means much less now than it used to.
The regular season schedule is also less focused on intra-division games than it used to be when more than half of your games were against division rivals. Those days are gone and not coming back.
So, yeah, I don’t think division championships are a big deal anymore.