Well, sadly enough, I think the culture has moved on from the whole romanticism and mythology that Rock and Roll used to command. Rock is dead, effectively. I mean, the current scene in popular music is more or less stagnant, and has been so for over ten years. I'm not saying there's no good music out there, you can find it if you look for it, but when I was a kid in the 70s, music was EVERYTHING about growing up. It defined you. Kids today are not defined by music. They are into their video games, computers, smart phones, facebook, twitter, etc. etc. And usually the nearest a kid ever gets to playing a guitar is by playing a Rock Band/Guitar Hero game.
It's effectively dead. Probably the majority of the younger generation out there thinks that someone who practices guitar or bass is a total nerd.