The Academy Award for Best Sound Editing is basically a Foley artist award.
Not really. The foley artist creates individual sounds, but the sound editor (who actually wins the Oscar) selects, assembles and modulates them (volume, duration, frequency) for maximum effect. The foley artist doesn’t oversee field recording crews, collaborate with the director and picture editor, or consult with the sound mixers (not to mention having a intimate familiarity with assorted sound libraries). The supervising sound editor does.
That’s like saying the Best Score oscar is basically a musician award or the Editing oscar is for neg cutting.
Since nobody has mentioned it yet, I’ll point out, in direct answer to the OP, that not only is foley work still done, it is in some ways even more important now than it was a couple of decades ago, because of the importance of the foreign market. If you record your environmental sounds with your dialogue, when it comes time to dub, you lose your environmental sounds. If you record clean dialogue (or re-record later in the studio), and separately create your sound effects, you can easily pull out the actors’ words and drop in new words without affecting the rest of the soundtrack. Not a small consideration, when you’ve got a major blockbuster going into several dozen markets with different local languages.
I watch a lot of the credit roll at the ends of flicks (to see if I see anyone I know, or to see where in Canada it was made) and almost every one has a Foley Editor.