Both AzaleaLightning and Pinkie-Dawn have it nailed. That's really all there is to it. However, as an animation enthusiast, I have to agree with Spinosaurus, too.
I'm not going to bother restating anything they said, I just want to reemphasize that you should read what they said. As for my own personal input, as long as CN has Regular Show, it's no where near a pit. And it's certainly not in a financial pit either with the likes of AT.
Also, as with AzaleaLightning, I like The Looney Tunes Show as well. It grew on me. I thought Daffy was incredibly annoying, and yet now I can't get enough of his characterization. And this is coming from someone who really thinks the Golden Age Looney Tunes were the top of the line. I just don't think I'm enough of a hardcore, invested fan of anything to feel bitterly about anything... except the Kirby series.
I feel like a lot of people within my generation like to rose-tint the heck out of everything. Whole Tumblr blogs are based on this. And yet, all that's happening is that people are just stating "the good ol' days" like every other generation above us. Face it, we're all getting older.
The only thing that's objectively bad compared to what it was is The Simpsons. People still like it, but that doesn't mean it's quality matches the level of greatness that inspired the earlier years (unlike The Looney Tunes Show, The Simpsons of today is conceptually the same show as it was in the 90's. It is not a reboot, remake, alternate universe, or anything).
One other thing I'll agree with, someone mentioned how shows became less violent and started to glorify stupidity. Oh God yes. The mid aughts was such a rough time for cartoons everywhere. Everybody was shouting all of their lines, the idea of "one sane man" was take to the extreme in that even background characters acted as if they had a frontal lobotomy, and LOL RANDOM humor was in vogue. What an embarassing time for me to have lived through, especially as an up and coming animator.