I totaly agree the old timers had a way better look IMO. Its all about mass now it seems.
It started with the judging in the early 90s, and it was a source of controversy. They started rewarding guys like Dorian Yates (rather than, say, a Shawn Ray) who won on size (in Doran's case, his lats and his quads) rather than symmetry, proportion, posing, etc. Then you had people taking copious amounts of GH leading to bloated gut.
Bodybuilding/supplementary industry essentially splintered into two different directions by the mid-90s. You had the athletic look (or I guess "functional") promoted by publications Men's Fitness, which appealed to the mainstream and makes most of the money for the supp industry. Then, you have the niche pro-BB market, which pushes the limits of human size.