In a recent Rolling Stone interview, Bob Dylan was very clear on his feelings towards today's music:

I don't know anybody who's made a record that sounds decent in the past twenty years, really…You listen to these modern records, they're atrocious, they have sound all over them, there's no definition of nothing, no vocal, no nothing, just like, static

Also of interest were Dylan's feelings on the debate over illegal music downloading, which seem to directly relate to the previous quote:

Noting the music industry's complaints that illegal downloading means people are getting their music for free, he said, "Well, why not? It ain't worth nothing anyway.

You can read the entire article right here.