The Oasis Effect describes the phenomena in modern music where popular music has plummeted in quality so much, that acts that were only mediocre in the past, are comparatively superb.
"I just got excited to find Wonderwall on a radio station. What the fuck is going on!?"
"Oh, that's just the Oasis Effect you're experiencing. Everything else is so bad, Wonderwall is good. We live in frightening times."