I stumbled over hip hop only recently (except for a few things like the first Eminem for a few cent on a flea market, and the first Arrested Develompent from way back than, a great record, but rather hippie music than hip hop, I think), but I really like nearly everything on Anticon Records, and I get really blown away by Dälek, over and over again. Someone once wrote in a magazine, they sound as if the Melvins played hip hop, and that's just that.
Oh, right, and De La Soul, I listened to them, too, and still like them.
So I think there's some pretty good hip hop stuff out there, and loads of shit, just like in rock music or any other genre.