I think the single biggest thing that influenced the direction of production was budgets. There used to be a lot of experimentation in getting tones, especially the drums and guitars. There used to be artist development in everything from songwriting to stage presence. Bands would hire the best staff, which resulted in a lot of behind the scenes collaborations. Bands would even bring in people from other bands just to jam out ideas and such. They took the time they needed to make something great and along with spending this much time on each aspect it showed in the final product.
With budgets so small now it has cascaded into all sorts of small problems that collectively created sterility.
-Band now often dont even live in the same area and just email parts to each other so there is no collaboration in writing of any kind.
-Producers use preset everything because of time and money constraints, so they stick with what they know works.
-Takes are comped to all hell because the musicians can't actually play the songs like a robot. Comping takes always existed but now like one verse could be 50 different takes with little half second snippets of the best takes clipped together to make a "perfect take."
-The tone of the the instruments used to come from the band working with the producer, now they just DI everything when recording and the producer chooses all the tones when reamping guitar/bass and which samples used for drums mostly eliminating the bands tonal input. There isn't money in the budget to try 50 different snare/bass drum combinations while in the studio anymore and all tonal choices are made quickly.
There was other things too like the whole drum samples leading to HEAVY compression. Drum samples themselves aren't bad but having each instrument isolated in a kit with no bleed you can compress the hell out of it to get it to slam harder without background noise also getting louder. This became a war like the loudness wars, who could get their trackes to slam the hardest. For some styles this can be cool, but it is overused and should not be in every production.
Now the younger generation has grown up on overly compressed, perfectly timed music and it is all they know so they think that if it doesn't sound like that then it isn't professional. They also all seem to want to sound the exact same (along with how they think and they act), their generation's trend mostly is to fit in rather than be unique so I don't really see things swinging back the other way for awhile.