You're sort of missing the point that the "elitists" are making, which is not that the classics of the 80s (by bands like Discharge, Bad Brains, the Misfits, Minor Threat, Amebix, Crass, Black Flag etc.) don't measure up, but that, strictly speaking, these aren't punk albums. Punk rock as such was largely a phenomenon of the 70s. By the 80s, you're mostly talking about hardcore and crust. The situation parallels that of heavy metal. I think the overwhelming majority of fans would say that very few truly classic heavy metal albums were released after 82/83 or so, not because heavy metal released after that period is inherently 'bad' or 'unoriginal,' but because those years marked a turning point, and most of the metal albums released since that time have been in other subgenres.
Stylistically, there's not much difference between punk and hardcore and in any event those bands you named were not doing anything that had not been done by 70s UK 'punk' bands (ie Angelic Upstarts, Anti-Nowhere League, Sham 69), or, at least, any advances in style, technique and composition were no greater than those between, say, Burzum and Negura Bunget. They simply executed it better. So assuming you regard those bands you mentioned as having artistic merit, you must recognise that 'execution' is more important than 'originality'.
I really don't see this, at least not on a macro-scale. What I see is albums that have more elements in their makeup, but are poorly constructed by artists who are more interested in the novelty of their music's constituent parts than in the function of the final product. That's not really an improvement, in my mind, so much as a loss of focus.
Wasn't it you who said there was at least some value in a poorly executed, but genuine, attempt at originality?
Perfect case in point. I could not disagree more completely with that assessment. When I hear Si Monumentum..., it strikes me as a classic case of Old Spice Double Impact Syndrome. The band seems intent on reminding you at every turn that this is experimental stuff (although, as it turns out, not really that experimental) by jamming elements together for maximum sonic contrast. It's soft. NOW IT'S LOUD! CACOPHONY! ambience. All very melodramatic, but also painfully predictable and basically incoherent as anything beyond an aesthetic of contrast. We get it, it's two things!
I think you have utterly missed the point of SMRC. Are we even listening to the same album? Where is this cacaphony? I see no attempt to seek "maximum sonic contrast". On the contrary, this album is relatively consistent in its aesthetic and a cohesive piece of work. Unless you're referring to the "Prayers" but these do not create, or seek to create, a loud/soft contrast. They use almost the same style of riff, and have a similar atmosphere, as the other songs but played much slower tempo. By the way, I'm not the biggest fan of DSO either but I use it simply for its notoriety.
Taking the argument to the extreme example, if I invent a musical genre, something thoroughly original in both structure and aesthetic, but execute it poorly, does it automatically make a subsequent artist who flawlessly executed that style inferior to me? I don't think so.
I notice this was the only part of my last post you didn't respond to. Your argument seems to be somewhat of a cop-out. You say that the newer bands lack originality to make them worthwhile, but every time someone points out an original album, you say "oh, but it's poorly executed".
On the first point, as I've already said, I think you overstate the importance of originality, and for that matter, ascribe a greater degree of originality to the 2nd wave bands than they deserve, given what came before them. I'm not going to go and listen to derivative rubbish like 1349 when I can listen to Darkthrone, but likewise if there is a superior effort at that style, I'm not going to reject it off-hand.
On the second point, there's not much I can do if you can't recognise the compositional qualities of modern black metal, short of giving a review of each album. But I don't think the classics of the 2nd wave are any more immune than modern albums to criticisms of their composition. To choose one album often regarded as one of the best, look at Burzum's
Hvis Lyset Tar Oss. Incredible first song, perhaps one of the best BM songs ever, utterly haunting. The more aggressive title track is good, but not something particularly new. Inn I Slottet Fra Drommen has an irritating two chord riff which goes on forever and finally we come to Tomhet, beautiful, well-composed, yet dull and overly long. It's dangerous to put things on a pedestal.