Wow, way to predict a depressing future with such conviction, psyla. You obviously have no faith in the human spirit.
Over the past few millennia, music has evolved from a single person incanting a story to chants to song to orchestras and bands. What makes you think that it’s going to take a sudden turn just because of iTunes? I suggest that if you want to contribute, you can at least try to back your opinion with some sort of objective fact.
Back to the question:
Classic rock isn’t even a genre. It’s a general term that encompasses many, many genres of rock music from the 60s and 70s. I think that, in many ways, modern rock (starting with punk in the 70s) is far superior to classic rock. It has much more sophisticated and subtle rhythms and chord progressions and a wider range of influences. But in many ways the pioneers of rock (those artists who are most influential in the 60s and 70s) are far superior in their originality and genius.
You simply can’t judge modern rock with the same yardstick as you judge classic rock. They are different beasts in different times. Modern rock wouldn’t be possible without classic rock, the same as classic rock wasn’t possible without blues. You wouldn’t judge classic rock based on the same criteria as blues, would you?
And don’t get me started on how we seldom hear rock anymore. Pop has dominated since the late 90s – most of what radio and the labels call rock is really pop with rock chord progressions.