Tailed Beasts are a core part of the Naruto franchise and have always been incredibly important in the grand scheme of things. They were introduced at the very beginning of the Naruto series in Chapter 1 with Kurama on September 21, 1999. Since then, the Tailed Beasts have been significantly expanded upon, and they went on to become central to the overarching story of Naruto.
Now, however, in the Boruto era, specifically in Boruto: Two Blue Vortex, the Tailed Beasts are slowly being phased out completely for a brand new form of power system that still involves them, but changes them forever. This power system is the Tailed Beast Incarnation, which sees them all become one with humans, instead of being sealed inside them and treated as prisoners. The Boruto series is officially revolutionizing the power system surrounding Tailed Beasts by bidding farewell to them.
Tailed Beasts were incredibly important in the Naruto series. Back in the Warring States Period, the Tailed Beasts roamed the world freely, but following the establishment of the ninja villages, Hashirama Senju, the First Hokage, collected the Tailed Beasts and planned on distributing them across the ninja villages in order to maintain peace and prevent war from spreading out. The Tailed Beasts were essentially used as weapons of mass destruction and to keep the villagers at bay, but eventually, Naruto Uzumaki went on to befriend every single one of them. By the end of the series, he set them all free. Kurama remained with Naruto because of their bond and because he was the guardian of the meeting place of all the Tailed Beasts inside Naruto's psyche. Similarly, Killer Bee maintained possession of Gyuki, the 8-Tailed Beast, due to their powerful bond that we got to observe throughout the run of the second part of the Naruto series.
"Since the Tailed Beasts have inconceivable power, every country wanted to use them for military affairs. A Jinchuriki is something that exists to control this power of the Tailed Beast." - Chiyo explains how to control Tailed Beasts, Naruto Chapter #261
That said, in Boruto, the concept of Tailed Beasts is primitive. Tailed Beasts are known to be incredibly powerful, but they are not strong enough to make any sort of a difference against the likes of the Otsutsuki. A Tailed Beast Jinchuriki cannot stand up to even the weaker Otsutsuki, like Kinshiki. As we've seen, Bee was easily defeated by them. Even a user of Six Paths powers, such as Naruto, with the chakra of all the Tailed Beasts, could not defeat Momoshiki by himself. Furthermore, the vast majority of the other Tailed Beasts simply are not even around anymore, meaning the concept of Tailed Beasts as a whole is primitive in Boruto. This is precisely why Tailed Beasts have been cut out of the story and replaced with a completely new power concept.
While Tailed Beasts were once incredibly important to the story alongside their Jinchuriki, now a new system has emerged in Boruto. This new system sees the emergence of human-Tailed Beasts. So far, we have seen the emergence of two human-tailed beasts:
"You're no ordinary Shinobi. In fact, you're even a little different from Jinchuriki...those who have the Tailed Beast inside them. You are human, yet, if anything, you're more similar to me and Jura." — Kurama confirms Himawari’s status, Boruto: Two Blue Vortex Chapter #25
Quite clearly, the Tailed Beasts have now changed forever. Instead of getting Jinchuriki, they simply get human incarnations. All the other Tailed Beasts that are currently roaming the world of Naruto will most likely end up with their human incarnations as well, completely changing the power system and replacing it with a brand-new system and making them relevant once again.
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