I'd only say "ruined" if you are talking about what hot-rodding used to be. More so, the game has been changed and has become more expensive. It's not so easy to be King of the Hill anymore. When I stop and think about it it makes my Buick 350 swap seem like an absolute waste of time and money. Sure it's more powerful than my Olds 307 was, albeit far scarier to beat on. But I kick myself for not sticking to my guns on an LS swap, which would have been faster still, and practically the same cost. So instead, my SBB with cam, headers, and intake is maybe pushing 240hp (I hope) while I live in constant fear of another ruined camshaft, ala Buick oiling problems.
All this being said, I think the problem lies within ourselves. The problem is that we're all driving antiques but we're not treating them as such. Sure they sound tough and they draw a crowd whether we like it or not, but we mistake that for relevance in modern performance way too often. Why are we pushing these antiquated things to such high standards? I know it's rewarding to hot rod, but why didn't we start with a better platform? Why aren't we all looking at modern engines? Because we all drank the legendary muscle car Koolaid. Show up to a gas station, car meet, wherever, and watch the admiration. Show up to a race of any kind without tens of thousands in swaps and mods, you might as well be driving a model T. Sure, a musket can make something just as dead as an AR-15, but don't show up expecting to clean house in a modern fire fight. Every industry pushes for improvements over the years, and if you don't keep up with it you get left in the dust. Muscle cars are experiencing that now. They're getting more and more extreme to keep up. Sure we can go buy a Schwartz Chassis and do a turbo LS swap, but do we not realize how extreme that is? We're saying that in order to be competitive with a G body, we literally have to put the body on a race platform. We are essentially talking about making street legal stock cars. That's not hot rodding. That's building a race car. With race cars, all bets are off.
I realize some of this sounds harsh, so I apologize, but take this to heart: Do your absolute best to enjoy your car for what it is. A beautiful old automobile, with a little bit of fun mixed in by the owner. A pleasure to look at and refreshing to drive. Don't ask it to beat a new GT500, and don't feel bad when you get beat by a new Challenger R/T.