With the development of pedagogy, Most of the institutions and teachers are adopting new teaching technologies and teaching aids. In this situation traditional classroom lecture method is losing its relevancy or requires some improvement.
I think that the new technological innovations should complement lectures rather than replace them. However, it is very possible that, as you say, the traditional lecture is in decline. Best wishes Paul
I think it is not the lecture method as is that is declining or losing its relevancy but the quality of lectures being given by lecturers. The paper given in the link below can help us improve the quality of our lectures.
The formal structure of a lecture therefore artificially focuses attention and generates authority for the lecturer to make their communications more memorable. Lectures are probably the best teaching method in many circumstances and for many students; especially for communicating conceptual knowledge, and where there is a significant knowledge gap between lecturer and audience. A formal lecture is a mutually-beneficial 'collusion' between class and lecturer. to improve learning. Lectures are delivered by an actually-present individual, and this creates a here-and-now social situation which makes lectures easier to attend to.
Sir Ken Robinson would say ''Some students don't want to stand still. They want to dance!"
He usually speaks in favour of the arts in school and mentoring and project based or collaborative learning instead of direct traditional schooling. However, the massive re-scaling of the system would be difficult and would happen most probably in a gradual rather than drastic way.