Exciting underground stuff is easier to find with YouTube than it used to be. You don't have to go to the dive bar in the bad part of town to see a band you would never usually see. My personal experience with it, when I was looking for a new lead guitarist, I was able to stalk guitarists on Youtube. And instead of having a horribly embarrassing auditioning process, I could check out peoples' playing. In some ways, you go into a record shop and the selection is narrower than it used to be with pop ruling the roost, but if you look, there's so much more to be found.