It's still absolutely rampant for some types of search terms. For example, try searching for "electronic projects", "crafts", or "life hacks" in an incognito window. The vast majority of the results for all of those search terms have misleading thumbnails and/or descriptions.
Oh if you're going back that far, then yes, it definitely still exists, though I don't doubt it used to be a lot worse. (I phrased my first response carefully in case there had been changes in, say, the past few months that I hadn't fully noticed.)