I hate "formal" cursive, but the concept is solid -- economy of motion, or time, or whatever. In fact, I've realized that some of my printing looks like cursive if I write quickly. Cursive that just looks pretty can go fuck itself.
I had to learn it in elementary school, and for some extended amount of time, all schoolwork had to use it. Then for a while after that (a few years) some teachers would still require it. Best part was when they'd critique your handwriting too, so it was an aspect of your work that you didn't gain points for, but that you could certainly lose points. I remember one poor girl that came in to our district in like 6th grade, after we'd already had all our training in it. She turned in a paper and I guess was just supposed to know not to print. The teacher made her redo it in cursive...and then didn't like the way she drew a certain letter (different than how the school taught it), so she started subtracting a point for each time that letter appeared or something, so this girl ended up with like a -2 out of 10 or some shit. I guess the issue was worked out somehow but I remember even as a kid thinking "wow what a dick move".
As soon as the requirements from teachers stopped, I quit using cursive and have never once ever needed to use it since (aside from my signature).
Not once.
It's something interesting to learn and I think it's definitely worth teaching kids how to read it and how to write with it themselves...but it should be something that's like...a few weeks of instruction per year, from grades 3-5. Not all year, not required in all subjects. Just "a few weeks each year, we teach the kids this skill and then give them a refresher". Maybe require it in "cursive month" each of those years, and certainly accept it anytime. But way less emphasis than my school put on it.