Should I guess that you were not adult yet when Yahoo! started?
When Yahoo! was founded, there was a need for WWW site directory, and Yahoo! filled that vacuum. It was the go to place for finding the sites in your area of interest.
Some of the sections of Yahoo! for example: Finance and Sports are still go to places for me and I am sure countless others. I haven't come across any other sites that even come close to those two sections on Yahoo!. Even today, there is no single directory site with curated list of relevant sites, news and information from such sites. So, I will say there is still a need for a Yahoo! like portal with curated information. What Google spits out in search and associated sites is SEO crap. Google has inability to differentiate among 14,777 news articles on a topic and which one is the most relevant and comprehensive.
IMO, Yahoo! need to go back to their roots which was portal of curated information. If they wait too long and the direction FB is heading, they will fill the void left by Yahoo!.