I think it's still a useful term there's always some outliers for individual points, but a eurogame hits most of these.

• limited player interaction, and generally only indirect action.
• players aren't eliminated
• player choice and action is the primary source of randomization.
• theme and gameplay tend to be less integrated.
• more symmetrical gameplay
• focused more on few in depth mechanics than wider variety of mechanics

It may not necessarily mean a game is European or German as much anymore, but it's useful to denote the experience you can expect from a game.