I don't think anything is even remotely over. --here is a bit of boilerplate from the Ethnomusicology Program at Indiana University, and it looks like they are keeping their people pretty busy-

The IU curriculum offers a full range of courses to provide solid training in the discipline of ethnomusicology, including theories and methods in ethnomusicology and adjacent disciplines; intellectual history; fieldwork; and transcription and analysis. The program has particular strengths in musics and cultures of Africa, East Asia, and North America as well as in the transregional and diasporic study of music, including music of the African diaspora, Jewish music, and popular music. Among the topics and approaches offered through our program are music and film, perception and cognition, music and identity, music and religion, and issues in the study and practice of applied ethnomusicology. The program also offers opportunities to study music performance in a range of traditions as well as training in multimedia applications, preservation, archiving, and the documentation of artists and performance.