People associate "the day the music died" with the deaths of Buddy Holly, Richie Valens, and J P (The Big Bopper) Richardson; as reflected in the Don McLean ("American Pie") song.
Unfortunately (or fortunately, depending on point of view) the music didn't die. Three entertainers did. The Big Bopper was a one-hit wonder; however, he wrote other material for other singers. Valens and Holly were singer/songwriters, nothing more and nothing less.
Some could say that music died with the murder of John Lennon, which could hold true to an extent; however, most of the Beatles music was co-written by Paul McCartney and Lennon, with George Harrison and Richard Starkey (Ringo Starr) writing additional material. Music didn't die, two song writers/entertainers did.
I do agree that it's nostalgic to look back on music in general and rock music in particular. However, as long as song writers continue to produce songs, and entertainers continue to sing them, music will never die.