The best use by far for any spear unit in any period is as an 'anvil,' and chivalric sergeants continue to field that role better than polearms. The large unit size means they can cover a larger front, and with rank bonuses they can hold on defensively for a long time and are very hard to push back.
They continue to be the best troops for holding a line, and they're cheaper per man to build and maintain than any polearm unit, so great for when money is tight or you need more bulk to your army. But with the advent of decent polearms they are no longer strictly necessary. They don't become useless or excessively limited, but they do become optional. Depending on your preferences as a commander, you can keep them or organize an army without them.
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