I think music isn't as revered as an artform in these times, compared to the 20th century.
The 20th century, from start to end, was a pretty special time for the cultural evolution of music. It gave us blues and jazz and rock and reggae and punk and disco and metal and electronica and grunge and hip-hop and a bunch of other musical styles that make previous centuries look pretty boring in the musical department.
Here in the 21st century, there is a pervading sense in the music world that "it has all been done already". There is still great music and great musical artists, if you are willing to look for them, but this is not the golden age of music, this is the golden age of TV shows. Seriously, TV shows now are SO much better than they used to be.
When we look at the 21st century, where are the David Bowies, the Elton Johns? It's laughable to compare Katy Perry to Madonna in terms of talent. It is very laughable to pretend that Justin Beiber is a rock star, and not a media industry construct.
There is still great music being made, but now you have to really seek it out.