The phrase is most dangerous when used alone because of its ambiguity and poor information scent. It creates uncertainty, because users don’t know what to expect if they click,
I used to work with a dynamite content editor. The two of us would engage in a long and bloody war against the words ‘click here’ on links for the exact reasons mentioned in the article. Eventually ‘click here’ would morph into ‘read more’ and then ‘learn more’.
This article by Nielsen Norman Group is a great read on why your link labels should go beyond the generic ‘Learn more’.
A little bit of effort goes a long way for making things better for your users.