O Clubs were a thing when I joined in the mid-90s. Even back then, it appeared that they were only kept afloat because junior officers were compelled by their COCs to join. I was compelled to join at both Benning and Campbell, neither of which I would have done without being "cordially commanded" to do so. O Clubs had little to no appeal to me. By the time I got into OBC I was through my binge drinking phase, and I went to college down the road in Macon, where I still knew plenty of girls.
At Campbell, we had a lot of "mandatory fun" events at the O Club, which nearly everyone departed almost as soon as they could. Lots of binge drinking, lot of lewd behavior, lots of morning-after regrets. Very little of anything that interested me. At some point there was some scandal or IG complaint or something, and units stopped making people join the clubs. Plus culture began to change (non-military related but still relevant:
Bowling Alone) and revenue when way down and many O clubs because all-ranks. I didn't mind that at all.
I got along fine with most of my fellow Infantry officers and enjoyed spending time with them on and off duty, but thought that the unit would have been better served by having O calls at the commander's house, and all-ranks, all-family events at the park or the rec center. Much of the behavior that was not only encouraged, but expected, at the O Clubs back in the day, would be totally unacceptable today. I think the units are better off for it.
I was never an E or an NCO so I don't have an opinion of those clubs. Other Os' MMV.