It "still has" ifconfig in the sense that you can install the 'net-tools' package which contains it and then use it, yes. However ifconfig is not included in base ubuntu installs and hasn't been since 18.04. It's marked as deprecated now.
There isn't anything specific that ifconfig can do that "ip" doesn't -- except I have 20 years of muscle memory for ifconfig and zero for "ip". That's my frustration. When I'm at home, just trying to set up Plex or debug a networking issue, and all I need to do is get my current IP address, the last thing I want to do is spend time learning a new interface that isn't necessary.
Again, this isn't really a complaint about the tools - I'm sure that "ip" is great and has more features and etc. But hosting on Linux feels like this about everything. Logs, services, networking, user configuration - the management tools for all these things have been changing quite fast, and in ways that can be hard to follow.
I'm not on the Kernel or Debian mailing lists and I don't think I should need to be to understand how to configure the network on ubuntu 20.04 vs 18.04. When I need to look up user management on BSD, I just look at the handbook. It's up-to-date and informative. Meanwhile in the Linux world these things change so fast that wiki articles from 2 years ago are often useless.