I think the talent is still there, it's the production that sucks. One thing I notice about the classic bands (what we all agree to be "good" rock) is that it is SIMPLE! Stones, Zep, Floyd (with some exceptions into effects), Beatles...it's all simple. Too many of today's young bands are at the mercy of producers who want to interject all kinds of crap into what might otherwise be great music. For example, I like MGMT's talent because they have melody and a groove. But too many of their songs are sabotaged by needless effects and stupid bells and whistles. John Mayer (I think he has a very long career yet to come) gets it. Great songs, superb musicianship backing him up, and awesome production values. There are just too few who get it.