I've seen Modern quilts that I've liked, and some that I didn't. I think it's a matter of personal preference. I also think it's a bold statement about the times in which we live. People are more pressed for time, so they make quilts that require few or no matching points or seams, or whatever. We are also living in a recession/depression. That has an impact. I think the more "minimalistic" modern quilts are a reflection of the economic conditions we currently living through. Quilting is an art; art is often a reflection of the society. I don't know anyone who hasn't reduced, or minimalised, their standard of living in these economic times, or who isn't looking forward to more the the same, or worse.
As for me, I have yet to make a Modern Quilt, although I've seen some interesting patterns. Just not my "style".