The art of making an excellent recording seems to be dying. But the mainstream doesn't care - heck, they don't even notice with their poor quality playback systems.
If you check pro audio forums you will see that recording/mastering engineers are often complaining about the demands of clients/producers to produce "loud" (=compressed) CD's.
The recording art and technology is not dying (although with all the available tricks in pro tools today there is a growing tendency to over-engineer things). The problem is that artists and producers are demanding loud in your face recordings, stuff that grabs attention but is easily tiresome to the ears! To me that is the problem.
Bob Katz has a web page that explains all the issues.