What happened to the New Journalism?

Where are the really good stories in magazines today? The ones that make you say to your friends: “Did you see that story about X?” Michael Shapiro examines the attenuated legacy of the New Journalism: “I had learned the essential lesson of those who wished to make magazines a career: write to form, or go to law school. So, I wrote to form. … Technique slid slowly, maddeningly, and seemingly inevitably into The Form: anecdote; set-up graph; scene, digression, scene, quote from Harvard sociologist.” (via bookslut)

What happened to the New Journalism?