I repeat. Not looking hard enough. There are plenty of good bands who have formed after 1994 and made excellent albums. Look harder, or just continue being left behind.
and obviously not everything is going to be as good as the original classics, but there are damn good modern metal bands that put out great albums in recent years. We'll just have to wait a while and see if they stand the test of time to be considered a classic.
and finally. LOL @ Beneath the Remains not being good. Maybe you ought to take your head out of Metallica's ass, because Schizophrenia and BtR are better than anything they did post Ride the Lightning.