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Record companies are not interesting in signing bands that make good music, they try to sell an image and a story. If Buddy Holly were a new artist trying to make it, he would never get signed because he's too damn geeky for MTV. If Pink Floyd were young lads in England today, we'd never hear of them because their 20 minute songs aren't exactly radio-friendly. The Who? Stones? AC/DC? Too loud, too ugly, too many real instruments as opposed to keyboards and computers.
White people are still making music, good music, but you won't find it on the shelves of your local Wal-Mart, nor will you hear it on mainstream radio.
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