Richard,
I think your analysis falls down because only the same number of good players are allowed to compete for the major title each time.
I doubt the variation of who is in that group varies significantly enough between the eras to enable your analysis to start to be realistic.
No, that would not invalidate my analysis at all. All I am trying to prove with my example above is that more good players you have, you are likely to have less "great" players because there is so much more competition.
While my numbers are hypothetical and simplified for arguement sakes, it does demonstrate that fact clear. It does not matter whether or not there are more variation in groups between the eras.
Let me put it in another way...
Let say when a "super" player plays a tournament about 20% of the times, he will play so well that he will win the tournament no matter what he does. About 50% of the times he will play well enough to win (which means, it is just a roll of the dice on whether or not he wins based on how many other players play well enough to win), 30% of the times he plays badly enough that he has no chance of winning.
When a "great" player plays, about 50% of the times, he plays well enough to win, 50% of the times he has no chance of winning.
When a "good" player plays, about 10% of the times, he plays well enough to win, 90% of the times he has no chance of winning.
When a "mediocre" player plays, only about 1% of the times he will play well enough to win.
So, let's take a look at a hypothetical tournaments.
Let's model "yester-years" tournament where you have 1 super player, 4 great players, 45 good players and 50 mediocre players. In this scenario, if you are a great player, your chance of winning any given tournament is about 5.3%.
In today' tour model where almost any player has a chance to win, it will be more like 1 super player, 4 great players, and 95 good players. In this scenario, if you are a great player, your chance of winning any given tournament is 3.3% - you have about 40% less chance than yester-years that you will win.
Obviously, these are just hypothetical numbers and in real-life you will have a much more gradual difference between players. But that still does not change the fact that your chance of winning as a "great" player is much lower than it was in the past - even if you are a better player than yester-year great.
It is a statistical fact. If you have more "good" players, "great" players will not win as many tournaments and thus they will be viewed inferior to "yester-year" greats, even if their playing capability is equal or even slightly better.