As much as I'm not a big fan of Budden's music he certainly does have a great mind in the industry and what he says is true. We as a whole are not as savvy as fans of other genres of music and that can attest to the generational gap and the youth not being brought up by those that came before them.
I grew up knowing of Slick Rick, Run DMC, and Rakim, but I don't listen to their music. It's more of a personal taste to many and what we like to listen to. Social Networking also played a big role into this as people can be influenced to dislike a certain rapper due to oversaturation. I've seen it happen before.