This has not aged badly at all, you now have people who can not quickly add numbers together, or even figure out fractions. Example:
My mom (Rhonda, 64) is the shop steward at a deli counter and had this conversation with her fellow employee Janice (25y):
Janice: "Hey Rhonda, they want 2/3 of a pound of cheese. How much is that on the scale?"
Rhonda (mom): "Janice, that's .66 on the scale."
Janice: "Yea but why is it .66 on the scale if they want two thirds?"
Rhonda: "Janice, you don't have to worry about that, just know that two thirds is .66."
Janice: "Yeah, but HOW do you know that?"
Rhonda: "..."
I'm sure someone will say "Your mom is wrong because she should teach her fractions! What a huge jerk!"
Note that this person has gone through high school, and children do this math regularly. What I am saying is, being numerate is useful at all levels of life, not just academic exercise.