Two points:
First, on the data I've been working with the past 5 years in SQL Server, I've recently hit the scalability wall with SQL for the type of queries we need to run (nested relationhsips...you know...graphs). I've been playing around with neo4j, and my lookup times are several orders of magnitude faster when I need this kind of lookup.
Second, to the point that graph databases are outdated. Um...no. Early on, as people were trying to figure out how to store and lookup data efficiently, they created and played with graph and network style database models. These were designed so the physical model reflected the logical model, so their efficiency wasnt that great. This type of data structure was good for semi-structured data, but not as good for structured dense data. So, this IBM dude named Codd was researching efficient ways to arrange and store structured data and came up with the idea for the relational database model. And it was good, and people were happy.
What do we have here? Two tools for two different purposes. Graph database models are very good for representing semi-structured data and the relationships between entities (that may or may not exist). Relational databases are good for structured data that has a very static schema, and where join depths do not go very deep. One is good for one kind of data, the other is good for other kinds of data.
To coin the phrase, there is no Silver Bullet. Its very short sighted to say that graph database models are out of date and to use one gives up 40 years of progress. That's like saying using C is giving up all the technological progress we've gone through to get things like Java and C#. That's not true though. C is a tool that is needed for certain tasks. And Java is a tool for other tasks.
