In the purest sense of the idea, communication with other peoples no longer requires I learn a foreign language.
Now, if you are an English-speaking physician working in a largely Hispanic-populated city, this communication "solution" isn't good enough. Likewise, if you plan on moving to a foreign country one day, it's simply more practical to learn that country's specific language.
But, for the rest of us? It taking two years of French in high school a good thing? Sure. But, is it of more value to me than learning how a carburetor works? I'm not sure. I want to know "how much value" learning a foreign language has in a world where, in terms of sheer communication, it's no longer necessary.