As I was an amateur musician in the late 70s and up through the mid-80s, I can give you my perspective. First off I want to commend a bunch of you for listing some great acts of the 80s. I listened to much of this stuff because I had friends who worked in record stores and told me about new stuff.
That leads me to the biggest issue of the 80s. Corporations took over the radio stations and, except for college radio stations, none of these bands were played on the radio in the US. MTV played some of it in the beginning because they didn't have enough videos to fill their rosters but ultimately, they just played the "popular stuff" that was pushed by the labels. They did have some underground shows such as 120 Minutes.
The other thing that happened was that music recording and production started to become accessible to anyone. You could have an 4 or 8 track recording studio in your home for not a bunch of money and a lot of bands and musicians became producers and engineers.
Music was underground for a long time but those who looked for it could find absolutely great stuff. I know Mike didn't have a complete list but let me add a few (by the way, huge points for knowing The Raincoats -- love that band): Ian Dury and the Blockheads, The Go-Betweens, Ministry, Oingo Boingo, Tom Verlaine, Throwing Muses, Catherine Wheel, Aimee Mann, The Bongos, Thin White Rope, Camper Van Beethoven, China Crisis, The Replacements, Young Fresh Fellows, They Might Be Giants, Howard Devoto (as a solo act), Comateens, Crowded House, Dead Kennedys, Lloyd Cole & The Commotions, Fugazi, Mission of Burma, Wednesday Week, The Last, The Rain Parade, Romeo Void, Simple Minds, The Jesus and Mary Chain, Gary Numan (Tubeway Army), Ultravox, The Glove (a mix of Robert Smith and Steve Severin), Grace Jones, The Housemartins, Japan, Jonathan Richman, Killing Joke, Nina Hagen, Lene Lovich, Martha and the Muffins, Midnight Oil, The Mutants, My Bloody Valentine, and Robyn Hitchcock to name a few more.