Sure, the technology changes have changed how things sound. But everything else has changed, too. The styles of pop/rock music have gone through a lot of dramatic shifts in the past decades not to mention our musical tastes often change over time. So even the music is different.
And as we age our hearing changes, too.
Most of my audio friends are chasing "the absolute sound" as it's defined in the audio magazines. They make remarks about my systems because they rarely conform to what the industry seems to be pushing. But getting my system listenable for long stretches of time is a priority. If I can't relax into the music then the system just isn't right.
Also to their chagrin, I'll often have a system setup to sound like a classic 70's hifi. Sometimes leaning toward east coast sound and sometimes west coast. Not accurate and definitely not the absolute sound. But exactly what I wanted as a kid and couldn't afford.
To really get to your question, yes things sound different than back in the day. But that just means you have to search a bit to find the right gear that can recreate the sound that makes you happy.
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