Is the talent fading with time ?

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Hello, I have seen and listen lot of films and Songs in the 1970's and 80's which are really good (my personal view) to which we do not currently have replacements. That means such films or songs are no longer made today. Which also means there are no equally talented musicians to sing the songs the way they did at that time. For example Abba, Bonium bands come to my mind. As a result lot of people seems to listen to older songs more often. They seem to repeat this process. Oldies are very popular. Today world is more technologically advanced. Special effects, Sound effects many other new innovations are there or introduced recently. But talent wise there is not enough talent to replace those advancements. Do you agree with me ? Past films at least, some of them did have much better stories in them than today. Agree with Me... Yes or No ? Comments...