I think it is, mostly because even with a database, research is required. You cannot simply take the most moved move for an opening and assume it is always the best move, or even a good move. Take this for example, perhaps there was a particular move that was very very popular 15 or 20 years ago, but since then computers have found that move to be inferior. Now, because of this new research, maybe that line is pretty much ignored by the masters. This would mean that this move might be at the top of the list for the position in question, but, if you made that move, and your opponent has MCO-15, which takes into account all of the latest research, your opponent may now have the upper hand.
MCO 15
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Anyone going to buy this? Is it worth it in the database age? I still like having a book in my *hands*, though. Debating, debating...