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. oI was going to reply to krw's post too, but decided to let it rest.
Sure, there are horrible lenses to be had out there (then and now). But make a reasonable apples-to-apples comparison, factoring price and performance, and YES!!, the newer lenses definitely have the edge. Many lenses these days even have floating optics, and active vibration reduction modes that can buy you a couple (some claim 3) f/stops. Try that with your 1970's vintage Lecia or Nikon glass.
Bottom line is: Many older lenses are fantastic!! No doubt about it. I own / have access to several myself. The Nikon 200mm f/2 comes immediately to mind.
But today's better stuff is still a whole lot better than what was available in the past, generally speaking. And unfortunately, the crap stuff hasn't aged any. It's still crap.
Then again, a wise photographer friend of mine once said: "The cheapest point-and-shoot in your hand is worth more than the most expensive camera gear tucked away in your camera bag back home." I suspect the same can be said about lenses.