Depp, Bale, Daniel Day-Lewis, DiCaprio and Damon all belong in the HOF. The strength is in the range, I might even through Smith in there considering a film like I AM LEGEND where he essentially is in the entire movie by himself. JGL is showing he has range, but i wanna see him in a straight dialogue driven drama, or perhaps a period piece.
Good acting is still around its just that most people don't go to see good movies. Hell you even got Viggo Mortensen in Eastern Promises that had a nikka not even remembering that was fukkin Aragorn. Or Javier Bardem in damn near everything he has done.
Lastly, you also have to remember that lots of great talent is going straight to premium cable TV, between HBO, AMC and Showtime you got PLENTY of great actors. I mean between Mad Men, Game of Thrones and Breaking Bad ALONE is like 20+ Emmys for acting.
I like Bale but his range is kind of limited. Before the fighter, dude was half way in the bushes.