I'm trying to think of another mainstream pop rock band with similar longevity covering the same era and which enjoyed similar success through the 80s and 90s and who are still active today.
I can't think of any at the moment. I don't think there's that much competition.
Many band of that era who have since became classic/cult bands, and U2 could probably have gone into history books asone of them, relatively big, but nothing in comparison to their current status. But unlike others, they persisted... and they became legends.
And once you become a legend, it's like you can't do anything wrong. You're appreciated for your status almost regardless of you musical output. Plenty of artists and bands cash in on that phenomenon w/ reunion tours.
IMHO, it's all blown out of proportion - and being blown out of proportion is often what pop is all about.
Don't get me wrong - Achtung Baby is an all-time favorite of mine, and they wrote a few gems. But musically, they're pretty average. Still, by today's standards...
EDIT - Ok, there's one of my favorite bands, namely the Cure. Though, despite a few hits, they don't come across as mainstream as U2, IMHO. Still the principle at work is still the same - their last few albums don't really justify the following. And I wouldn't regard them as virtuosos either.