That seems arguable. Coming from the Indian subcontinent, we have traditionally grown up in a country with a rich culture and heritage, and my grandparents, for instance, had the ability to speak around 4 languages fluently. However, the current generation is usually unable to master more than 2 at most, hence the reason for it to be tagged as dying. It seems fair however that this trend differs in different regions.

However, the main objective of this topic is to analyse whether the benefits of being multilingual are tangible, and is the time and effort invested worth it.

As an expat, and interacting much with the expat community, I have personally found that most of us prefer speaking English over our native language, and even fluency in our native languages is decreasing as we grow more uncomfortable communicating in a language other than English. In many countries, such as mine, most people cannot easily fluently articulate their thoughts in more than 2 languages, hence most people are bilingual, but very few are multilingual.