Absolutely it is. 1/72 as a scale was established pretty much through aircraft models, and then other subjects were brought out in 1/72. Airfix and Frog pioneered the scale, with Revell taking it up here in the States. It remains very popular, especially for those of us who don't have a lot of space.
When I got back into modeling, I told myself that I wasn't going to build in 1/72, because it's too small, but I find that I've accumulated quite a stash of 1/72 kits. And the smaller size doesn't necessarily mean that you can't see the details. There are a lot of really good kits, and accessories.
I do recommend using an Optivisor, though. It would be nearly impossible for me to work on the Braille scale kits without it.
I haven't abandoned other scales; 1/48 is still my favorite, for aircraft. I have some 1/32 kits, too, but just not enough room to display them when finished.
Hope that helps!