The first two Godfather movies were easily 20 years ahead of their time. You can make all the cases you want about Speilberg "nailing it", but no directer anywhere has ever nailed anything like Francis Ford Coppola did with those two masterpieces. Godfather I is practically the Mona Lisa of film imo. When you look at every other movie between 1972 and 1974 and compare them to those films, it's a fucking joke.
The 70s was a very rich period for filmaking, so while I agree with you that The Godfather is masterpiece it is a bit of a sweeping statement to say that noting which came out around the time could match it or come anywhere near it.