Obviously not NOTHING but there was a lot more crap out there. Moreso than now. I think this is a pretty well known fact.
NO fucking way. There is more terrible music going around right now than in the entire history of popular music. 2001-2004, we were still relatively free of the blog band phenomenon; the landscape in general was far less cluttered, musicians were still using recording studios and producing actual albums for the most part.
Anymore I'd say one out of fifty bands is worth any attention even in passing. And as for the hybridization of popular music and electronica: The Postal Service. /discussion.
Bullshit. Nothing will EVER be as bad as the days when bubblegum pop was at it's height. Nu-metal and pop punk were also flourishing back then. No amount of dubstep will ever be as dark as those days were.