My take is that the 70s were merely a fallout from the 60s until the Sex Pistols appeared to give rock a back to basics skiffle type shakeup.
The introduction of multi-track recording (plus the increasing use of synths) had done a lot to drain the music of a sense of urgency which punk/new wave restored.
Like the Velvet Underground before them, countless bands said they had been inspired by watching the Pistols live.
You could argue that bands like the Velvets, MC5 and the New York Dolls were all years ahead of their contemporaries, but it didn’t do them much good if they were seeking chart success, their music didn’t translate to what was happening elsewhere.
[The 1973 OPEC oil crisis would soon fix all of that].
This ’new wave’ culminated with the music of the Smiths during the 1980s. Of all the 80s bands, none pushed the musical and lyrical envelope in the same way Morrissey, Marr, Rourke and Joyce did.
After that, it’s difficult to say whether anything new, outside rap, which arguably took getting back to basics even further than punk did, happened.
https://openculture.com/2015/06/the-sex-pistols-1976-manchester-gig-that-changed-the-world.html