Most certainly it is less important. Just look at sales across the board, be it real media or digital downloads. Look at concert attendence, look at all the clubs that have closed. The limited attention span of the current generations, the ease of availability and the over-driven hype machines for mediocre or worse artists have jaded the audience to a point where they have to constantly look for something new whether or not they understood or even cared about what they heard previously. You just don't see people collecting everything by an artist anymore because he really spoke what they were thinking or feeling. I have artists I've followed for decades because what they say means something to me. Not every song or every line but it's there.
Nobody is going to be able to sing along with Pink's "So What" (#1 9/27/08) in 40 years but I'd bet I could sing along with most if not every #1 song of 1968, not that any of you would want to hear it
I'm going to crank out a big, fat disaggree on that one there Ray. Band dedication does not equal dedication to music as an entity, nor the importance thereof. Music trancends whatever label we wish to haphazardly stick to it, be it a primal tribal chant energizing the soul to a sophisticated Baroque sonata entangling the listener's mind in it's fast paced complexity, and is equally important to the nine year old listening enraptured at a fireside in Africa as it is to the twenty four year old Australian sitting down and listening to Vivaldi in his study.
Typecasting, that is what we may be guilty of with this thread. Oh these kids and their iPods... no patience to sit down and really listen to the music. Even if that were the case, and I strongly beleive we are cutting my generation no slack whatsoever, does the sweet spot in your favourite song send chills down your back any less if you are listening to it on a bus with headphones in your ears than on a plush leather couch in front of an expensive hybrid amp? Absolutely not.
Music will always say what cannot be said with mere words, no matter the medium, and no matter the generation listening.