Eh, I don’t know, I feel like this is a cyclical thing that happens often, but most of us use revisionist history when we look back at it. The current generation is rarely as good as “the prior generation” in most people’s minds.
Man coming out of the 80’s, where you had legends like Bird, Magic, Isiah, Kareem, Moses, Dr. J etc., all you had to pick up the slack from them was Jordan. Guys like Barkley, Karl Malone, Ewing, they were nice, but they’re not superstars, they can’t carry a team, let alone carry the league.
Then going into the late 90’s, people thought the league lacked superstars again. You had real superstars like Jordan, Hakeem, Ewing, Barkley, Pippen, David Robinson, etc. all on their way out, with only Shaq to take the torch. Look at who was finishing top 5 in MVP voting in the late mid-to-late 90’s, guys like Tim Hardaway, Alonzo Mourning, Glen Rice, Gary Payton. Again, nice players, but not “carry the torch” type guys. That Iverson guy definitely can’t be the face of the league, and let’s see how that Duncan kid does without Robinson next to him. Guys like Kobe, Dirk, Garnett, Kidd weren't widely considered superstars. They were at the top of the list to take the torch, sure, but so were guys like Stackhouse, Sheed, Marbury, Antoine, Carter, etc.
Though I do think the league had a pretty smooth transition in the mid 00’s with guys like Shaq, Kobe, Duncan, Dirk, Garnett, etc. at the top with LeBron, Wade, Yao, Howard, Carmelo, Durant, etc. waiting to take the lead.
Really though, I think people will probably be having this same conversation 10 years from now in 2025. Ya LeBron James Jr. is a stud, but the league doesn't have as many superstars like Lebron Sr., Anthony Davis, Durant, Blake Griffin, Steph Curry, etc. as it did 10 years ago…
The prior generation is usually always considered better, it's just the way it goes.