The last 10-12 years has had McGrath, Pollock, Steyn, Johnson who all have great records befitting ATG status. Ntini, Harris, Philander, Akhtar, Gillespie, Anderson also are/were better than average.
Compare that with the 90s and you have Ambrose, Donald, Walsh, Wasim, Waqar as ATG.. then Caddick, Fraser, Gough, McDermott, Bishop filling in.
80s its Hadlee, Marshall, Imran, Holding as ATG.. then Botham, Garner, Alderman, Kapil etc
I don't really see how the last 10-15 years have been that weak in the pace department.. I think it's too much nostalgia.