Punk regrouped and spawned Grunge
If anyone has seen decline and fall of wester civilization you can see clearly that early punk (at least american punk) had its heart in the right place but lacked some, ahem, talent? Grunge was the answer to that, where you had some seriously good bands, Nirvana being one of them. THey make punk radio friendly and brought it to the mainstream, much to the detriment of the genre.
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"Surrender Dorothy!"