Are websites passe?

At one point a website was considered a necessity. Intuitively, as one embraces the ever evolving strategy of Social Media / Digital Marketing you come to question the need for a web presence using a website.

For example, in the promotional products profession, suppliers produce catalogs (print media), have  websites (duplicating the catalog), maybe a Facebook, Twitter, LinkedIN presence and perhaps Blog. Distributors, at the very least have websites that more often than not are templates where any semblance of creativity is lost in the headlines exclaiming the availability of 10,000 promotional items!

Consider the time and resources required to keep all of this content fresh AND relevant? What is your marketing strategy and how relevant are the tools your using?