Do you think that the trend of praising competent work as classic is a recent trend or something that has happened in all ages?
It could be Sturgeon's Law, and the 90% that is crap from previous eras is forgotten as footnotes. Or it could be the things that craftsmen valued in previous times are not the same thing businessmen value in these times.
Because Shutter Island is a decent movie and well-made. It's not great and doesn't deserve such praise for having a few really good performances, a well-sketched plot and some vivid cinematography. I would hope those would be starting points for a decent film, not grounds for effusive praise.
On the other hand, next to a trifle like Up In the Air, I can see why people like it so much. But that's not necessarily saying it's Goodfellas or even the King of Comedy.