There's no way for the All-Star Game to ever regain its previous luster or importance. The manager and players seemed to care about winning more; now it's a pure exhibition (and marketing opportunity for MLB). There used to be memorable moments, like the 1999 celebration of Ted Williams, and A-Rod switching positions with Cal Ripken (better get used to third base, kid).
As noted by others, we can see any game we want now, or any player. When I was a kid, the only time I would see American League players was during the World Series, or a Saturday game of the week. So I really looked forward to the All-Star Game. The first one I was old enough to see live on TV was 1968. It was the only time I saw Mickey Mantle bat live on TV (he struck out, but nobody was hitting in that game). Nowadays, Mantle wouldn't even be chosen for the game since he had a bad first half. Watching Mantle, Mays, Aaron, Drysdale, etc. in the same game was amazing to me.
I still enjoy it, but not nearly as much. I doubt kids today enjoy it like I did in the day.