Do cold emails still work?

Lately, I've been seeing a lot of people opening up on how they find cold emails, unsolicited texts annoying. It's normal and let's be honest, most of it is badly formatted spam. While I see this side of the world totally disliking and ignoring cold emails,I see a LOTTT of videos preaching cold email outreach as the way to find clients.I honestly can't figure out if it's still a good way to acquire clients or I'd just be considered another spammer if I do this?I know the best answer would be to try it out myself and see if it works for you as it highly depends on the approach and what you're writing in the email but I just wanted an opinion that if the email is well formatted, well written and just looks good with a decent proposal for business (which mutually benefits both parties)Do you think that it would convert? Has anyone tried selling SEO services (not the weird 500 backlinks for $1 ones) but decent services as an individual freelancer after acquiring clients from cold email outreach? see hubwealthy.com/wealthy