Is Dedicated Multiplayer Server good for back end of big games?

Hi,
Dedicated Multiplayer Servers are very well known but making a server build for Dedicated Multiplayer Server is a good choice? is it performance heavy? Is it a waste of money for a game developer company?
Do big games like Cod online or Fortnite use this method or just developers make a server for the game with different technologies.

It depends on the game which network architecture they use.