Bach is celebrated for himself, not his historical importance. He reached his current status as one of the most celebrated classical composers in the Romantic era, well after his Baroque style had become old-fashioned.

Bach is so celebrated because it has a precision to it, and because all of the musical quality is right there on the page. It's the exact opposite of modern pop music, for example, which is production-driven, and relies much more on dramatic musical gestures.