Do nofollow links help SEO at all?

Nofollow links are not useless, but they work differently from normal links.

• Google treats nofollow (and ugc/sponsored) as a hint. It may still use the link for discovery and, in some cases, for ranking.
• They can send real visitors, which is valuable on its own.
• A natural link profile includes a mix of followed and nofollowed links. Only having followed links can look unnatural.

That said, the links that move rankings the most are usually followed, editorial links from relevant, trusted sites. Treat nofollow links as a nice extra and spend most of your effort earning a few strong editorial ones.