Hey, I've been teaching online for almost a year and I've been through so many stages of loving/hating it. I am currently really enjoying it. Part of this is because I've gotten an ethernet cable and I've asked all of my students to change their settings on Zoom so that the background noise option is on 'low', with a specific music mode selected in the settings.
There was a stage where I really didn't think online lessons were working well, but this was mostly as my wifi was really poor and the students had the wrong settings selected. I would say definitely consider a webcam and/or mic so that your teacher can hear you properly. Most of my students aren't playing very complicated music, so basic equipment is fine. However for more advanced students, I really can't hear properly unless they have a half decent mic.
I've seen more progress in several students this year than I did last year when I was teaching in person- this may be partly due to the fact people have a lot more free time nowadays! But it definitely shows that online lessons do work, I would say that the main issues I've come across have been with young students under 10 years. I'm actually considering getting some online lessons from my own teacher who I haven't seen in years as we live in different countries- so yes, they are definitely worth it if you invest in some decent equipment and have a good internet connection.