Why the exact match keyword type in PPC is still relevant today

Broad match has more learning capabilities than phrase or exact match. If broad match can do all these things, is there even a need for exact match? Broad match has a higher conversion rate than phrase match, so Google can bid more (hence the higher CPC for broad match) on the broad match variations to obtain the same CPA as the phrase match words. If you are budget-constrained, using exact and phrase match generally gets you better results than broad match. As you see broad match serving incorrectly, using exact match and negative keywords can help steer the machine.