IMHO I think it is dead and it died somewhere in 1983-1984.
Nowadays kids are getting high five for wearing a leather jacket with custom paint,patches, studs,having blue hair or a mohawk,etc, but back in the day you would get in fights/beat up because of the way you looked. If someone saw you walking down the street looking like you did they would think it is taboo.
It just doesn't mean anything like it did some 30 years ago.
I also think the "punk" bands of today are all about the money.
I mean look at "The Casualties" they obviously care about their image more then the music itself.
But the thing that really grinds my gears is the whole "anarchy" mentality. I mean if the world would truly be in anarchy the "punks" would be the first ones dead.