A TON of good hip-hop still lurks around.
You guys are just trapped in the mainstream scene.
I don't think its fair comparing 90's hip-hop to present style; or even comparing the pioneers of hip-hop like Rakim or KRS-one to Pac and Smalls. A lot of you are answering you're own questions to why hip-hop is what it is today.
Yes hip-hop was more raw back then and lyrically spoken but trust me this is the internet if you guys lurk around more to hip-hop/rap forums there's a lot of underground shit that hasn't even risen yet or will always stay underground for a purpose.
I was born in the 80's and I got a hella lot of love for the music for the genre I was born in, love for the genre of music before I was even born, and love to the music presently.
My 2 cents.
Oh, and here's a classic.