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I'm not denying that there are plenty of great movies made after the '70's. Hell, Remo Williams was made in the 1980's!

But the critical consensus is that the '70's were a golden age because of the number of significant films produced and their impact on the field of cinema as a whole. That's not to say there weren't crappy movies being made or that those crappy movies didn't represent the majority of films produced during that time. That's true of any period.

And of course just because the 1970's were America's golden age that doesn't mean that holds true for every country on the planet. South Korea, which is hugely influential in terms of world cinema, had an explosion of creativity in the 1990's and is experiencing another boom today.

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