Billy definitely got worse over the last 30 years. We’ve got some from the nineties that are much more wood-like than what they sell today, still going strong.

They look the same, but the actual construction grade on the new Billys is awful. I bought a bookcase two years ago and the wood veneer has already chipped off, revealing the cardboard inside. Even the more expensive stuff isn't immune - I purchased a Malm at the same time and the drawers already have the bottoms gone and the metal frame parts have already bent.