i think good guitar work is on it's way back. i've seen some signs, nothing i can put my finger on, call it a gut feeling.
people do get sick of hearing the same sound, and want to hear something different. and i'm hearing more and more younger people ( not just guitar players) having an appreciation for bands that i grew up listening to, which, incidentally, lol were bands from before my time as well.
and i'm hearing more guitar licks in songs that i actually like, things that sound fun to play. it is time. :)