For the record, I've had a few small communications with Roger Abrahams recently and decided to have a look at the return address:

Center for Folklore and Ethnography Graduate Program in Folklore/Folklife

So it's at least recognized as a "program" if not a whole department. It may be there's no undergraduate dep't or major but I guess that's the same as it was way back. PhD courses and just "classes" (I hope) for undergrads. There's at least one full-time staff. The Penn website also gives: "The Undergraduate Program in Folklore and Folklife (Folklore Minor)" There are quit a few classes offered including "Issues in Folklore Theory." Hmmm. What issues could there possibly be?