BSM: You're right. Older toons were indeed far better. Now, let's get back to work

(this is a topic that's been popping up on repeat pretty much since the dawn of the internet... it's nostalgia in action, and also a side effect of not being exposed to as many now you're older. Still, I voted "earlier" because I have the same feelings... just from some years earlier)
More seriously, seeing a wider time-spread of things, I'd say your youth was passed at a time where there WAS something of a turning point in kids animation... I think probably it was when 2D & 3D animation packages became good enough quality and affordable enough that every Mr J Q Random and his hamster was able to make a cartoon. And so, as it's easy to make something that at a surface level appeals to kiddywinks, doesn't necessarily require the most complex plotting or expensive voice actors, and always has a ready market, a lot of folks lined up for Easy Money. Though stuff like Samurai Jack, PPG (& Reboot? Never saw it unfortunately!) shows that it's not the production method itself that's at fault, it certainly facilitated an awful lot of crap, presumably getting to air as it was that which had the lowest licensing cost.
However, don't lose faith. These things do tend to come and go, and there are still strong storytellers and skilled animators (in any medium) out there. If you have any free-to-access Video on Demand services available from your local broadcasters, check out their children's section, you may be pleasantly surprised. Yes, there IS a lot of rubbish there, it's not like the 80s and 90s where most things were solid gold (and had to be, in order to compete in a smaller channel complement, higher production cost environment) and had a lot of genuine effort expended in their production because that's the only way they could be made - but there are still a lot of well made, enjoyable programs. For every Animalia, Waybuloo or Chuggington, there's a Shaun the Sheep/Timmy Time, Little Howard or Tronji.
The strangest gap is that there don't seem to be many decent adventure / superhero type productions about right now. But a lot of those have gone semi-liveaction with a lot of CG. The cartoon ones all seem to follow the "EXTREEEEM!" kind of formula.
(Well, except for Avatar: TLAB of course.)
Could be worse, though, you realise. You could be living in the mid 70s, where Hanna Barbera & the Pink Panther were considered the height of quality *shudder*, and if you're exceedingly lucky there might have been a few (ORIGINAL) Tom & Jerry or Loony Tunes/Merrie Melodies thrown in the mix. Scooby Doo and the like is good for a quick laugh, but it's not exactly top class entertainment with high production values.
What I would like to see is a kids channel that casts its net quite wide, across what is now at least 70 years of very variable quality, from around the whole world, and cherry picks the very best of it all. I think I could easily fill up a week's 24 hour schedule with nothing but awesomeness, including some things made in the last 10 years. Big flashy stuff for the tweens and teens around morning and evening pre/post school time, with the occasional more thoughtful thing dropped in like a culture-bomb. Lots of light froth throughout the day to keep the toddlers quiet (including all the absolute classics - fill their little brains up with goodness, and pop culture references that are half a century out of date), and the grittier, turn of the 90s kind of fare through the late night slots for nostalgic adults or those with the ability to set a VCR/PVR.
This may already exist, I hope it does (may explain the patchy state of free-to-air broadcast schedules, if it's snarfed all the licenses)... but unfortunately if so, it must be a satellite / premium cable one, which I'm too poor/stingy to afford
