I don't know man, I grew up listening eminem and he introduced me to rap, but his recent stuff doesn't compare to what he used to make. I'm glad he's still successful but I guess his new music just sounds too mainstream for me. He has always been "mainstream" in a sense but his new album is half pop/half rap. He's still arguably one of the better mainstream rappers, but I don't like modern mainstream rap as a whole.
Also, you're right about lil wayne, he's garbage. I lost a lot of my respect for eminem when he collaborated with lil wayne. You're also right about rap dying, and if you ask me it has been dead for a while. Ever since people like lil wayne and 50 cent became popular things have gone way downhill.