As of 2022, Tracfone is still in business and is a large mobile telephone provider in the United States. Their business model is still based around no-contract, pay-as-you-go service. Tracfone is currently owned by Verizon, a company whose main business is smartphone sales and service. Tracfone plans include both prepaid smartphone and feature phone service. It is a budget service, and seems to be geared towards people who either don't have the means or the desire to use a "smart phone", including many senior citizens who want a less complicated phone.
I myself have a Tracfone. After I returned from Latin America, where smart phone contracts were cheap and necessary for my lifestyle, I realized that most phone plans in the US were at least four times more expensive than what I was used to, and required a contract. But I needed an American phone number for certain things, and I wanted to have a phone in emergency, so I bought an Alcatel flip phone for around 30 dollars, and pay about that much every three months to have phone service, including text messaging. My feature phone does have internet, which is hard to navigate but can be used in emergencies. In general, I consider my Tracfone service, which works out to a little over a quarter a day, to be a good backup in case I am stuck somewhere and really need to make a phone call. While I can't say that Tracfone is the most stellar company, it has done what I needed without problem.