Magic Missile still has uses later on but it isn't a wizard's go to for damage.
Exactly, it is often used purely to disrupt enemy spellcasters (who often lost spells they were preparing if they took damage) or hitting those pesky high-AC low-HP targets. Also handy when the target is immune to non-magical weapons. They can certainly be used as long-range firepower generally, but 'in the old days' the wizard would generally reserve the spell's use until it was needed.
