This has been said for ages and, as a person in a very multilingual environment, I still cannot see it happening, no matter how good the translations are. I may be wrong, but talking through translation earbuds seems dystopic and uncomfortable.
but for people in unilingual environments, this tech seems like a miracle
there's also no substitute for the reduced inferential distance when two people speak the same language. the literal meaning of words encodes just a subset of the communication