There's been a slow death in a way. On the positive side there are films getting into the Academy Awards that wouldn't have but on the negative side financiers are now dominant and making all the decisions. I can't count the ways a director's vision is compromised.
The thing about movies these days is that the commerce end of it is so inflated and financiers are just expecting this enormous return on their investment.
Last year when 'Black Swan ' 'True Grit' and 'King's Speech' all grossed over $100 million it gave studios and independent financiers the confidence to make daring movies and not do the same old you-know-what.
My dad used to love Steely Dan the Stones Jethro Tull and all that. There was always Steely Dan going in my dad's car but I remember The Royal Scam in particular because it has 'Kid Charlemagne' on it.