Italia 90 and Euro 96 were the last tournaments where the whole nation was rapt with excitement and everyone watched together down the pub. Ever since England and international football has been subject to a sorry, sad, inexorable decline in the national - indeed global - consciousness, not unlike the FA Cup final. The decline in the FA cup was about 20 years in advance, but same trajectory. None of this is helped of course by the fact that national teams like say Brazil or Argentina or Italy are no longer the pinnacle of world football teams. They would likely lose to the best teams of Man City, Liverpool, Juve, Madrid, or Bayern.
Terrible host nation choices for World Cups over the last 20 odd years, often due to percieved political correctness and corruption have also helped kill it.