I think there are a couple of points we should think about.
First, ironically, the original comment sounds like Paul McGowan and his interest in building his own recording studio and producing everything in DSD. Just sayin'...
Second, we may also have some recall bias. We "think" or remember all the good old recordings. But if we look back, there were more bad and poor recordings that fortunately we forgot about them.
It happens to me too. I was complaining about this to my son and he started to put music from "youtube" of some recent musicians, and even from there, the sound was pretty good. And the music was fantastic as well. Music I would not have searched for on my own.
There are a couple of programs about how people record their music. Apple TV has "Watch that sound" with Mark Ronson. I didn't know much about him but it describes some of the modern techniques (and the origins of some old ones!) used in recording. It made me realize even more that we have to try to "listen" what they listen in the studio. It is fascinating. There are other documentaries, including Springsteen, on how they make them. I think we will realize that there are great, good, mediocre and bad recordings now as they were in the past.
It's the same with PA systems too. Last week we heard H.E.R and the LA Phil at the Hollywood Bowl and the sound sucked big time. Last night, we heard the LA Phil playing Villa Lobos, Piazzolla and Tchaikovsky and the sound was magnificent. Same venue, same orchestra, but different needs. By the way, the HER sound was the worst we ever heard at that venue.