I use linkedin and pay for premium but the problem it solves for me is very different. If I want to find out how to reach an organisation to do sales, I need to know the structure of the organization and who I know that knows people who work there. I don't even use the linkedin-platform messaging. Really it's about how to coordinate my rolodex so I can get warm introductions.
I have posted a few jobs on linkedin and they immediately get 1000s of applicants, with very poor signal-to-noise ratio. We don't use it for job postings anymore, we instead do more specific targeting.