His films, and those classics from years past, were made for a wider audience. Today's horror, like just about any other form of entertainment, has been categorized into who knows how many sub-genres that to have some resemblance to universal appeal will result in huge box office success (Sixth Sense, The Others, etc.).
Furthermore, most of the older movies relied on the strength of the story being told, not for it to be some excuse to isolate a bunch of teenagers nobody cares about and watch as special effects take center-stage. And this is indicative of the genre at all (cough, cough, Transformers).