Two years of foreign language. Is this a terrible decision?

UC schools specify a minimum of level 2, but level 3 is recommended.

http://admission.universityofcalifornia.edu/counselors/files/csu-uc-a-g-comparison-matrix.pdf

Note that UC schools have foreign language graduation requirements for most students; a higher level in high school may allow you to complete such requirements with fewer college courses needed, allowing you more elective space in college.