In the lead-up to the 3.5 release of WordPress, we kept hearing that the outdated “blogroll” was going to go away. No longer would you see the Links menu in your WordPress admin area because it was no longer really needed with the advent of custom menus last year.
So after I updated many sites to 3.5, I noticed the Links menu was still there.
Turns out it only goes away on new installations. Bleh. In case you were wondering, that is why you still see it.