Apple has a fairly good track record when it comes to predicting the death of old standards.

My town is very bike friendly, and my 4 mile commute to work is 90% dedicated bike roads, but I still wouldn't bike without the ability to adequately hear things around me. Every once in awhile I come upon a cyclist with headphones or ear buds, riding in the center of the lane, and when they fail to hear my call to them that I'm on their left, I pass them in the available space and they almost always end up getting spooked. Same thing with runners and headphones.

All the more reason a bike rider should be aware of their surroundings.

Someone else being inattentive doesn't dismiss you from your responsibility.

It's not about attentiveness. Car radios, speakerphones and conversations don't block out ambient noise the way ear buds tend to do.

I mean, it's great for sound quality but downright dangerous when paying attention to your environment is critical.

It allows you to hear things around you. It's similar to holding a speaker aside your ear (but not blocking it). You hear the music, but still hear other things too. I use it while cycling to listen to audio books. Works fantastic and I lose no situational awareness.