One of the purposes of the Electoral College is to prevent the large cities from owning the federal government. If you live in a State containing one, your vote for president is of slightly less weight than one from a rural State. It still counts, though.
The real question is whether or not elections matter anymore. From some perspectives, regardless of which party controls congress or which nominee wins the white house, growth in the size, authority and wealth of the national state continues with no shift to its curve, or none we would notice in our lives. That problem is unrelated to the Electoral College.