It doesn't take inflation into account. Seriously, take it into account and those top 10 current day movies don't break the top 50 (I think).
EDIT: Whoops, I meant to say some of those don't break the top 50.
Here's adjusted for inflation list: http://boxofficemojo.com/alltime/adjusted.htm
Avatar is at #85 (but I'm unsure how accurate that is).
Kimi wa ne tashika ni ano toki watashi no soba ni ita
Itsudatte itsudatte itsudatte
Sugu yoko de waratteita
Nakushitemo torimodosu kimi wo
I will never leave you