The most "modern" music I listen to is Metallica, AC/DC, The Blues Brothers, Booker T and the MGs, Def Leppard, Led Zeppelin, anything by Elvis, etc etc.
We don't ALL suck. Just saying.
Thing is, sucking is in the ear of the listener.
Some of the BAnds you mention suck just as much as plenty of stuff today.
Led Zep, for example, a band that owned my high school, pretty much suck. They even had a song where Robby Plant sang suck it suck it suck it over and over in his high pitched woman voice.
I think a MAJOR exception is Coldplay, who are some of the most gifted melody and lyric writers out there. But Green Day? Don't get 'em. Boring. I do find individual songs clever and appealing, but the groups don't seem to be able to sustain it. Jimmie Eat World and Matchbox 20 have had 2-3 good songs each, but that's hardly even one album by Coldplay.
Part of the problem is the demise of MELODY, part is that these guys don't seem that they value actual playing/jamming.