And just to show the fallacy of labels, some examples:

"Classical" music is still being written today - there are several contemporary composers of classical music, named so in the media.

"Jazz" is still being written today. "Traditional jazz" is mostly defined by style and age, though I believe there are pieces still written today that are called "traditional", if only to differentiate from "modern" or "freestyle".

And if we leave the world of music for a moment, a centuries-old piece of furniture or porcelaine is more easily recognised as "antique" if it can be attributed. But it can be called "traditional" even if it was made yesterday - because it is the style, the essence, that drives the terminology.