[krapp]

>Almost 20 years have passed since then and nothing similar is being done anymore, at least not in the mainstream.

Bear in mind that over 20 years, a lot of what was groundbreaking in terms of animation quality has become mainstream, so it's not surprising that people wouldn't be as floored by Toy Story 4 as they were by Toy Story. Anime was a relatively new phenomenon for many in the West back then as well - Cowboy Bebop was one of the "gateway drugs" into anime for a lot of people.

I wouldn't assume that work of high quality is no longer being done - I've heard people talk about Your Name as if Makoto Shinkai were the next Hayao Miyazaki for instance - it just doesn't stand out in a crowd the way it once did, now that anime is no longer as niche and people have services like Crunchyroll.