Histogram wont tell where you have blown highlights but it is useful to understand the exposure, which is not easy from the LCD screen under different lighting. Yeah, if you only want to detect blown highlights then the blinker setting is better.
And I disagree, ETTR, is always useful, regardless of sensor. Modern Nikon & Sony sensors do have way more shadow depth but ETTR will still maximize the shadow detail and DR. If you are worried about shadow detail then ETTR becomes even more valuable. This is all assuming you wont be clipping highlights, which I clearly emphasized and cautioned about.