There is a time and a place for time trials and all athletes at all levels do them,
Some coaches may approach them differently, but my opinion is that while racing will always provide the best feedback for how training is going, a time trial does the same from a fitness standpoint and lets the coach and athlete know where they are. Depending on the length of the TT distance, they can be used both to determine workout paces and to also determine potential race pace.
As you may have seen from the last few months, when an athlete is really at the extreme top of the world, some coaches may see it fit to do a TT instead of find a race with a pacer in some corner of the globe to determine fitness. Obviously last couple months have blown that out of proportion but the general message is there.