Willravel, I feel your pain, but I think this is one of those times when you can say there is no gain without pain. You say that no one is writing music like Bach anymore - I say that's nothing new.
Beethoven couldn't manage to produce the harmonic complexity and craftmanship of Bach's music.
Mozart couldn't match Beethoven's gift for motivic development, and Brahms couldn't churn out catchy little tunes packaged in perfectly balanced compositions like Mozart. On the other hand, it goes backwards too. Beethoven couldn't write a great opera if he tried (and he did - listen to Fidelio - it's good but not great like Magic Flute), but it was a walk in the park for Mozart. Bach couldn't have written the music that Beethoven did, and none of those cats could have done what Wagner and Mahler did to tonality.
As far as modern composers go - I already said that I think your lack of trust if at least somewhat justified. But, I'll play devil's advocate. Composers have always been at least somewhat ahead of their audiences. In the 20th century, they have been pushing pretty hard on the limits of what people can tolerate. At least some of this has been in good faith. Granted, some guys were throwing shit on the wall and waiting to see what stuck, but others were honestly exploring new ground. I'll be the first to criticize Cage, but I don't think he was a dishonest artist or lazy musician. I think his work pushed the boundary between what is music and what isn't. There is value there too. It just so happens that I think he pushed so hard he broke through to the point where the concept of his pieces contained more craft than the performances. This isn't inherently wrong, but perhaps his work is more appropriate as performance art than performing art. Maybe some of his stuff is more at home at MoMA (Museum of Modern Art) than Carnegie Hall. Maybe not...
Anyway, I'll end by saying that there is some good stuff out there. I'm particularly digging the music of John Adams, who is still alive. I hope you'll check it out - $16 for a CD that you could either sell at a used record shop if you hate it, or could turn you on to a whole new composer isn't much of a risk. In particular, listen to Grand Pianola music, or the chairman dances. I'll admit up front that it might sound a little repetitive at first (though nothing like Glass), but this is because Adams is a leading proponent of minimalism. This doesn't mean few notes, it means few compositional elements. So he uses just a few blocks to make towering structures. If you do listen to it, let me know what you think.
By the way, I agree with you statement about art for art's sake. I wrote an essay bashing it for a class last semester (a difficult proposition at a music conservatory).
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Cogito ergo spud -- I think, therefore I yam
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