Linked lists have a really important property: each node can be owned by a different allocator. You can have a node which is stack memory, linking to a node which is heap allocated with libc malloc, linking to a node which is arena-allocated per frame of a game engine, linking to a node which is global static memory. And you can set this up in a maintainable, sensible way.

Linked lists are incredibly useful when an object can exist in a predetermined set of lists, and allocation failure must not be possible when adding the object to a list.