There are a number of good solid hymns still being written today. We have a number of them in our LCMS hymnal, Lutheran Service Book.
But if by "modern worship music" you mean what is commonly called "contemporary worship," my answer would be this: I don't think much of it. On the whole, it is shallow and vacuous, lacking in substance, more geared toward performance than congregational participation. It is selling the church's birthright for a mess of pottage.
Do you allow instruments in your church worship?