Klangkarussell - All Eyes On You - this is probably my favourite music video ever. I'm a sucker for one-takes, and the fact that this one is nine minutes long makes it so impressive on a technical level. But also, the video really feels like an experience. I feel like there are a lot of different ways the characters and situation, and what they represent, can be interpreted; it feels like everyone reads into the video in their own way (and I'm totally down to discuss anyone else's interpretations once they've watched it). Plus the atmosphere of the video really enhances that of the song - I like the song well enough, but combined with the video I find it so hypnotizing and engrossing. (Plus, it doesn't feel cheap by any means but you can see it was made on a shoestring budget, so it gets extra points for that as far as I'm concerned.)
All India Radio - Rippled - long-exposure light stop-motion is so damn cool. It's such a pretty video, and I love how authentic it feels - it obviously took a lot of time, energy and talent to make (over 6 months according to the description) but it has so much personality to it, and you can obviously see the people in the background moving the lights around which makes it feel far less "clinical".
Delta Heavy - Get By - musically, it's a slightly above-average 2012 dubstep track, but the video is so fun (and terrifying, I suppose...). Again, I love the stop motion, but it's also just really fun on a conceptual level.
Anyway, all of these are a decade old, so I guess maybe you're right about modern music videos. I can't say I watch many music videos, though, so there are probably some good ones I miss!