Funny.... but punk will never die. What is dead is the marketing horse the music/fashion/etc industries are still beating.
Punk (which is not an aesthetic genre, but that's another discussion - the industy has tried to coopt the aesthetic, or what they perceive/distilled as the aesthetic, without the substance and that is the source of the fail) has permeated music culture; the rise of the indie music scene is (part of) it's legacy. .... and if you look for it, there are still kids starting proper punk bands (whatever you consider that to be, hardcore or otherwise), the scene is just under the radar a bit vs this 'pop punk' re-explosion, and I think they like it that way.
.... and yes, Psycho has a good point, even back in the day ("first wave" - whatever) there were 'punk' kids who didn't get it either, or who (appeared to be) focused on the parts of punk that were of lesser importance (how one dresses was important to punk, but not in the typical way, and not above all else). I mean, the Clash even documented that (see White Man in Hammersmith Palais), while themselves being rather punked out.... and that sort of paradox is part of human nature anyway.