I wouldn't go that far (in fact, good hip hop artists are doing some of the most innovative stuff in the music industry right now (real hip hop, not some mainstream snap music shit, mind you)).
Actually the conclusion I came to is that electronic music -- not electronic as in techno music, but things like non-linear multitrack, sophisticated sampling, electronic instrument synthesis and manipulation -- all these things are very quickly transforming music. There are a number of genres that simply wouldn't have existed even 30 years ago due to a lack of technology.
Now at the same time as that enables a lot of artists who have nontraditional musical talent, it also makes it easier for anyone to crank out an album on autotune and a whole bunch of post-production, which is where we are today. A lot of record labels got burned by following the acts that college stations were breaking once the bottom fell out of the grunge movement, so in large part they returned to financing safer returns on investment by basically manufacturing their artists with, say, some hot chick and a shitload of studio work.
At any rate I think it's things like what I described in the preceding paragraph that are destroying music today. IMHO this perceived need to stick to "safe" artists and genres from the mainstream labels have really pigeonholed music in the last 15 years, and they're enabled by technology just the same way that other creative artists are making music now that would've been inaccessible to them just as many years ago, because that tech didn't exist. One side effect of this, I think, is the beginning of the end (or at least a plateauing) of the sort of musical icons of past generations.