For the most part, the eras are the same. These points made throughout the thread are true:
1. Lots of crap used to be really popular
2. There's plenty of great music out today
The difference to me, though, is that 'popular' and 'great' intersected more often than they do now. I submit these two examples:
1. Beatles. They freaking took over the world, and are remembered today as geniuses.
2. Led Zeppelin. While not reaching the height of the Beatles, they were still ubiquitous. My mom has given input on this before, and from what she's told me every teenage and college girl wanted Robert Plant back in the day, and the band was incredibly popular.