New technologies allow landfill operators to extract some of the waste and use it for industrial purposes (particularly methane, with potent greenhouse emissions, albeit relatively short-lived). It also remains true that some forms of recycling - paper, cardboard and metals like aluminum or steel - are still cost effective, provided that the public stops trying to recycle their pizza boxes. I've often wondered if environmental policy would be better served by focusing on sorting high-quality, cost-effective recyclables into recycling plants and putting everything else into the landfill.
IMO, recycling has ceased being about - or perhaps never was about - economic efficiency or ecological health, and is mostly a cheap way for people to feel like they're doing the right thing. I have become somewhat skeptical about recycling, and even I feel the shame of being a heretic against pathos-laden gospel first preached in grade school for failing to throw a plastic bottle into the recycling bin.