The title of the video above was sufficiently provocative that I was interested in hearing what Beato was talking about and listened to the whole thing. Death of memorable songs? Yes and no. He's identified part of the problem, at least.
Since he's a proudly whitehaired man in his sixties, it may need pointing out that Beato is not saying that there are no good musicians anymore. Far from it. And he's not saying that there are no good songs being written anymore. Rather that there's a near total break between what's interesting and what's popular. I wouldn't disagree.
My explanation for what happened might be a little different. Despite all the payola and hype, there used to be DJs who operated with a certain amount of freedom. And listeners trusted them enough to open themselves up to unfamiliar music. Britain's John Peel was the best known, but there were lower key exemplars here in the US. It wasn't a perfect system, but it had enough give so that there were pleasant surprises.
What went wrong didn't all go wrong at once. MTV was a double-edged sword. While it also introduced some unfamiliar artists, it effectively created a national playlist, taking oxygen from the locals. The 1996 Communications act was a disaster, opening the door to monopolies in radio who had zero interest in anything being unpredictable. Eventually DJs got sidelined where they existed at all. And now radio has been supplanted by Spotify. As Spotify is algorithm-driven, it basically guarantees that what you hear in the future will be an imitation of what you listened to in the recent past.
So what's needed to make good new songs popular again. Thinking humans in a position where they can recommend things again. Whatever genius figures out how to do that will have performed a great service.