Soontobe is exactly right.
Heaps of good bands and musicians around today.
The thing is though, popular music of the 60's and even 70's was nearly all good, and some of it will go down as the most influential and defining of all time. Hendrix and The Beatles...need we go on.
Popular music these days is mostly crap. But there is tonnes of great bands out there, it just seems they don't get commercial success.