I totally agree.
Generation bias seems to do this in all sports. I can't help but laugh a bit when I hear the comments about Russell and his deity status. Bill Russell won those eleven rings with no more than 10 teams in the league at the time...10 friggin teams !! Odds are much better than when you only have to go through 10 teams versus 30. Right now the media is so scared to attach the Dynasty word to the Spurs because they are a small market team amongst large market, flashy fan favorites.
I'm still waiting for the people who defend the notion that basketball was being played "better" in the '80's yada yada (fill in decade here) to explain to me how when a sport gets MUCH MUCH larger and the overall talent pool expands by 200-300% that the overall quality of the players goes down. Thats like saying the best 2-A highschool football programs in Texas are superior to the 5-A programs. Larger talent pool = better average talent making the cut. Now I will agree that there are parts of the game that the more modern players are missing today...things like freethrow shooting average for example, but overall average player talent is higher today, and if the NBA continues to grow it will be higher 10 years from now.
It is my contention that the reason we have a perception of less superstars in the league now is that since the average talent level is higher now it is harder for players to stand out from the crowd so to speak...in other words there arn't as many big fish in little ponds because the pond is bigger (NBA globalization).
I am 38 years old and have been watching basketball since the Finals were tape delayed and it is absurd to say that todays NBA is inferior to the NBA of the '80's for example. Take a look at the top 50 list and you see some names on there like Walton. Even prior to Walton's foot problems Timmy would have been able to post very good numbers against him. Patrick friggin Ewing is on that list !! Ewing wasn't that great man...only reason he made the list was the market he played in a large market.
As time goes by, average talent level increases
if the sport continues to grow. Look at the 1980's O-line of the Redskins in football for example. the HOGS were so named because of their massive average of 280 lbs a man

Did you know that up until 1984 there were never more than 8 players in the NFL in a given year that were over 300 lbs? Now 20% of the NFL's players tip the scales at 300 lbs or more. The reason...science (roids) and nutrition.
While I will agree that the NBA does not require all of same physical attributes of the NFL, science and nutrition are still major factors. A person like Wilt dominated like he did because he was FAR ahead of his time when he came into the league in 1959. Put Wilt in todays league and he fails to stand out like he did then. He would still be a great player, but the gap wouldn't be nearly as prominent.
In 20 years we will be defending the arguement that the likes of Shaq, Timmy, Kobe, Lebron etc. were far better than the "new" crop of players and we will be wrong then too most likely.