It's common when you arrive home in a sunny day, with a lot of heat, you had a bad day in the school, and you want to watch the TV, you decided to watch MTV, but surprise, you only see crapping videos from rappers and commercial rock bands, and you think, rock is over.
Normally we think that because TV and radio only show us the most commercial things, and only a few of good rock bands. Maybe it's true. Rock in the 70's was better, but there was also cheap bands, and disco, and pop. But now we can still find good bands, maybe they don't appear on MTV or in the radio frequently but they exist and those are good bands. You could use other ways of sources like Kazaa, information of your friends, some magazines, to know about good rock bands. In fact there still are "good known bands" that appear on radio or MTV, maybe 2 of 20 bands, but there still are. And you can find underground bands that have a lot of skills or creativity. For example the European Metal.
And my theory for the future is that now we have technology, like internet, books to learn etc..., and now the musicians will be able to develop his skills easier than before, (like learn to play guitar on internet, sites that have scales and chords, tablatures, recording programs). In addition, people, with technology can hear more kind of music and make solid influences. The labels may look for that bands, because the bands that are now, they're a fashion and some of they will dissapear (like Backstreet Boys and N'Sync that was famous and now, where are they) because in all the life there will be good and cheap bands.
And thanks to that, there may be better musicians and better bands, and not only bands that play 2 chords, or 50 cents.