Are Exact Match Domains still relevant?

I'm helping a company work on their marketing and SEO strategy and cleaning up the work that an agency had done before. I noticed that the agency used exact match domains to create new domains that function as landing pages based on high-ranking keywords. These domains are stand alone and have no branding that links back to the main company brand so I'm concerned about the leads getting put-off when another company contacts them. I'm also worried about diluting the company brand through different domains and also maintaining those domains. Is this even a relevant SEO technique?

And to be honest, I have never encountered EMDs before so I'd like to know if my concerns are founded. Anyone can advice on whether I should keep them or if they are an obsolete SEO technique and I should just can them?