Dude thats what people said in the 50's 60's 70's up to now. Each generation has new music which some people find better or worse. People burned Elvis records because they said it was sinful but it was just a reflection of the new societies value, as is today. Yes there is alot of shithouse music around today (see the entire pop genre) and metal isn't really a patch on the likes of metallica and sabbath anymore. But really there are still some fantastic bands out that will go down as Gen Y's rock legends. Just look at bands like the Red Hot Chili Peppers, Green Day, the Foo Fighters, Queens of the Stone Age, Rise Against, Atreyu from time to time, Jack Johnson, the Killers, Weezer and a plethora more that I can't name for fear of ranting (as if I haven't already done so).
Also look back on the 70's and 80's eras. While there was some FANTASTIC music then it too was buried neck deep in commercial pop shit. For example, Maddonna.
*Tears fingers from keyboard to stop getting self worked up enough to kill a kitten*