40 correlates to success at several positions. For RBs, there's a metric called Speed Score, which is literally just a prospect weight divided by his 40 time ((weight * 200 /(40 time)^4) to be more accurate. As you can see, just taking size and speed alone is a decent predictor of success.
It's not the be all end all, there's some guys like Kareem Hunt and Alvin Kamara who balled out with poor Speed Scores, but it's another tool to have in your box. Your best rookie RBs this year - Saquon, Chubb, and Michel - all put up "passing" Speed Scores over 100, while Ronald Jones put up the second worst Speed Score in the class and rushed for under three yards per carry.
Linebackers, also, have a really high correlation of success with 40 and jumps. Tape is key for LBs, because we could sit here and name athletic LBs who couldn't find the ball all day. But if you find a guy with good film, and he tests out as being fast and explosive, chances are he's going to be a player. LVE annihilated those metrics, and Jaylon would have put up numbers like we've seldom seen before if he'd been healthy enough to run.
So don't throw out the baby with the bathwater. Some 4.7 guys are Jerry Rice or Anquon Boldin and some 4.3 blazers end up being John Ross or Darius Heyward-Bey, but there are positions where speed matters and the 40 helps you to find good players there.
Rotoworld has been doing a really fun series about the statistical correlation between NFL stats and certain Combine and college stats. There's a lot of charts and info to take in, but it's a treasure trove if you're a draft nut. This is the one for defense.
https://www.rotoworld.com/article/numbers/nfl-draft-analytics-def
And to be honest - the whole tape vs measurables thing reminds me a lot of the BPA vs need debate, where I think people take it too literally. You need both. Tape versus measurables to me is more of a lean one way or the other when the two are saying different things, not a wholesale rejection of one or the other.