The song does not lose value when it is sung in other languages, full integrity is intact. I would presume the individuals most offended by the commercial most likely do not know the lyrics to "America is Beautiful." As a matter of fact, I wonder if anyone complaining about this on twitter listens to this song in english on their own time. Certainly "America is Beautiful" is nowhere near the top of the billboard charts, how important is this song to people really? It comes down to racism, those poor victims of ignorance. I dig the singing in different languages, they were all beautiful sounding adding an edginess that wasn't jarring. It's what you call art, it makes you feel something even if it's not a feeling you like henceforth people are mad, yo.
Looking at this from a marketting perspective the soda company has nothing to worry about, people are blabbing about it all over twitter so coke got what they wanted. In their advertising companies are now considering the public's reaction via social media. Classic marketting psychology work on Coke's part, I tip my hat to that since they paid big bucks not only for the spot during half time, but also to research and critique the concept of possibly pushing people's buttons up and down middle America. :)