How we perceive classic is probably changing in ways we don't yet fully understand. Until relatively recently, you had to go out of our way to find some of these films; AMC and TCM were founded to make them more accessible. Part of The Wizard of Oz's and It's A Wonderful Life's mystique was that they were seasonal events on television for more than one generation.
Today, even awful stuff is instantly accessible (give or take a subscription fee).