You are choosing to pick the worst from 90s and 00s and picking the very best from today. The likes of Rajkumar rao, sidhique are rare exception. Let us compare the main stars. The likes of varun , shahid , arjun kapoor would not even hold a candle to srk, ajay, aamir, akshay, salman etc.
Good movies are few and far. Ranveer is a very good actor and I have been a big of ranbir but ranbir is not doing anymore quality movies. I think we have been vastly underrating the acting skills of srk, ajay , aamir.
You named Arjun as one of the biggest stars today, you cannot be serious? Also ranbir's latest in Ae dil hain mushkil was absolutely amazing. Real acting in a real film, unlike say K3G ironically with shah rukh which was full of cheesey puns.
I don't think I cherry picked at all, the 90s and 2000s were carried by 3 actors. They were terrific stars but only one was a genuine timeless talent of an
actor (Aamir). Srk was a product of Yash Chopras brilliance and Salman a superstar that can sell shit on a stick.
Take an example of a relatively limited actor today in Siddharth Malhotra. He's not even close to a top star but he's actively doing different roles, which is a testiement to the diverse range of cinema today. His work in Brothers was actually very good, and Kapoor and Sons as well. Two films in stark contrast to one another. We'd have never ever seen that in the 90s.
There are films today that simply would never have been given the go-ahead by the producers in the 90s. Karan Johar is a good example of that today. He keeps posters of movies like Rang De Basanti rather than only his own ones, as a benchmark to do something different. You look at some of his productions and its a breath of fresh air. Ghazi attacks and Kapoor and Sons for example.
Bollywood today for all its cheese flaws (there will always be glossy piles of nothing to please the rural audience who like Masaaki flicks), the industry has moved very far in its genres and also broader arrays of talent.