Definitely not worth full retail price over $1k anymore, but a very, very nice camera nonetheless. The 16mp 4/3 sensor isn't the newest kid on the block, but it won't be embarrassed by newer sensors unless you're really looking - dynamic range is still solid, and high ISO is quite usable up to about 1600-3200. Even ISO 6400 is usable, though if you're shooting at 6400 regularly, you may want to look for a FF camera or at least get a faster lens. Speaking of lenses, there's not much lacking in the m4/3 ecosystem. From wides to teles, fast primes and fast zooms, small/light and big/heavy - almost all combinations are represented.
Biggest pros over newer budget models are a faster processor (than something like a Fuji X-T100), weather resistance (with matching weather resistant lens), and a big glorious viewfinder. This viewfinder, at 0.74x, puts most <$1k viewfinders to shame, and is an absolute gem to use - much better than the peepholes on something like a D3400 or D5600.
Biggest surprise of this camera is its speed - with a UHS-II U3 SD Card, you're able to shoot at 5.5 fps until your battery runs out. Try doing that on anything else in this price range.
Biggest drawback to this camera is its continuous AF performance. Single point AF is up there with the best of them - very fast acquisition for candids and street shooting, but if you ask it to continuously keep focus on a moving subject (as in sports), it doesn't do so well. You may get some keepers outdoors in daylight, but if you're looking for close range shots of your toddler running around with the background out of focus, this probably isn't your camera - though to be fair, no AF system under $1k will reliably do that aside from maybe the A6000 or the D7200, and they have their own drawbacks, as well (usability and build on the A6000, size/bulk and buffer on the D7200).
For $550, I'd definitely get one if I didn't already own one.