The US population is significantly higher than it was back then, so the overall pool of potential athletes is also significantly higher. I think that combined with the influx of foreign players likely offsets any dilution from more kids focusing on football and basketball in their formative years. I don't see any dilution in the talent level, leaving our nostalgia out of the equation.
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Four phrases I nave coined that sum up today's hobby:
No consequences.
Stuff trumps all.
The flip is the commoodity.
Animal Farm grading.
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