Ya'll argue too much. LOL.
To answer the original question, I think that Greek life is still basically what it seems to have been initially intended to be:
a sisterhood/brotherhood
service to the community
taking on issues that largely impact AA (sorry, just being honest) although some of us provide SERVICE TO ALL MANKIND

among college or college-educated AA.
It's still generally this in my opinion. I know in Alllpha Kappa Alllpha, we are still cultivating and encouraging high scholastic and ethical standards, promoting unity and friendship among college women, studying and helping to alleviate problems concerning girls and women in order to improve their social stature, maintaining a progressive interest in college life and being of service to all mankind. Ok, went off on a little tangent there. I'm back. LOL.
There is a tendency to compare the days of old with now in terms of processes, caliber of candidates, etc. It happens outside of BGLO life as well and therefore is not really a big deal to me because our candidates tend to still be the creme of the crop. How many times have we heard folk say that back in the day AA were more unified, the music was better, the musicians were more talented, etc. Now go back a generation before that and the people of that generation will say the same about the generation that came after *them*. Overall, I think that most will agree that those in BGLOs are still generally the talented tenth.
SC