Going deep isn't everything
So, yes, a homer-less player can be good, and occasionally even great (though of course that's rare). There aren't many Ozzie Smiths out there, but there are other things a player can do when the power stroke isn't working (or is simply nonexistent).
He can compensate for a paucity of home runs with a surfeit of doubles (and/or triples). In 1977, Expos second baseman Dave Cash didn't homer, but he did finish second in the National League with 42 doubles. In 1933, Cubs second baseman (and future Hall of Famer) Billy Herman didn't homer, but he did hit 33 doubles (and play his usual solid defense).