Is this prophecy relevant to us in our time?

It's for you decide.

Jer 51:5 - 11 " . . . (The genetic nation of) Israel is not forsaken, nor Judah, of his God, of Yahweh of Hosts; though their land is full of guilt against the Holy One of Israel.

Flee out of the midst of Babylon, and save every man his life; don't be cut off in her iniquity: for it is the time of Yahweh's vengeance; He will render to her a recompense. . . .

We would have healed Babylon, but she is not healed: forsake her, and let us go everyone into his own country; for her judgment reaches to heaven, and is lifted up even to the skies. Yahweh has brought forth our righteousness: come, and let us declare in Zion the work of Yahweh our God. Make sharp the arrows; hold firm the shields: . . . " (The World English Bible translation.)