Either have their strength and weaknesses but the most appalling issues with the "New" side of magic we've seen crawl out from under various inner-city crags is the lack of respect it displays;
Little to no respect when it comes to the craft as a while
Little to no respect for Magic History, let alone traditions
Little to no respect for other performers (unless they're some kind of VIP)
Little to no respect for the effects & knowledge one is allowed to know
Little to no respect for one's audience
Little to no respect for one's self -- how you look, speak, and project yourself in person and on line.
Little to no respect for the older, more experienced veterans of the craft (again, other than "known" VIP types folks suck up to).
This is a list that could be grown significantly but the real point to it, is how selfish and ego-driven today's new magicians seem to be; buying into the myth that they must rush out and get an eBook, Video, etc. on the market within their first two years of cutting their teeth on just base material -- we're not all Luke Jermay's or Jason Latimere's let alone some of the other phenomenal young people that have come up through the ranks in the past decade. But then we also have those that are pseudo-celebrities in one or two forums that think themselves VIPs because they have pumped out a few commercial books that appeal to the less experienced. . . not that we have such types on this forums
We also have a huge misconception in play with today's magic world (the newbies) when it comes to the idea of "Busking" and doing street styled work -- It's NEVER been something to aspire to but rather an area of work one did either when climbing up the ladder or simply to survive, doing what it is we do. The misrepresentation by various TV Actors doing "street ____" (magic, hypnosis, mentalism, etc. ) has created a very dangerous fantasy in the minds of many who think that such work is "legit" and will make them famous. Where a quasi-legitimate side exists, it is not generally a thing conducive to "celebrity" let alone an income base that goes outside common poverty parameters... not without some serious augmentations.
Hit & Run styled "ambushes" on the laity is just one point that reveals the loss of respect for both, the public and the craft itself. It's rude and akin to a high pressure salesman (a.k.a. con-man) forcing people to buy something they really don't want or need... again, rude and disrespectful to the level of being unethical in many a case.
Understand, there are some amazing young people that represent the "New" course of things, a few I've mentioned. They are the exceptions and not the rule! Such people/talent is exceptionally rare, composing less than 3% (probably closer to 1%) of everyone involved with magic in ways that run just outside the hobby scope of things.... which is a very narrow margin; like the music industry, the odds of being "that guy"(gal) are grossly stacked against you... even when your only aspiration is to simply make a comfortable living doing what you love; for to do so, one must "play the game" as it were, and comply to how the world actually works vs. the horse pucky and hype we have been lead to believe by the advocates of this "New" way of doing magic and the related money mongering attitude is seems to likewise encourage... but that's another issue altogether
As I've said, good & bad with either camp, but the New approach seems to have far more negatives surrounding it than the traditional course of making magic happen and being a "Magician" vs. some clown that does shock effects.