FWIW, I’m running Sierra (10.12.6 with the latest security updates), and pulling down the Go menu while pressing SHIFT* shows the Library item. Pressing Option doesn’t do anything in this context.
*) The sequence doesn’t matter, select Go, then press SHIFT or the other way around.
Likewise, here.
I'm surprised that
How to Show the User Library Folder... (permanently), which is still an option in Sierra, hasn't been mentioned. (Nor has command-shift-L been mentioned.)