Does anyone else think this

We will not vanish without a trace. Some younger people do appreciate good music and analog equipment, including big speakers, amps, turntables and even RTR decks. Not many but they are there.
Often those younger people, and not so young for that matter, simply don't have space and that kind of money. I don't have space for big monoblocks even if I could find a few thousands to get those older Rowlands, Gryphons or Lamms used. I can't just put either speakers or those monos in the middle of the living room. I might be able to accomodate a big stereo amp, barely.
However, yeah, most are wired digiheads spending a lot on car stereo instead of tuning their cars and get performance suspension, brakes and tires.
So, it's not that gloomy. Yet.

I know 1966 Cadillac DeVille is substantially better than BMW 525 coz it's substantially bigger.

OP is correct. Youngsters listen to headphones. My teen is barely interested in a decent dac for his laptop. I don't know of a single teen with an actual stereo. I guess a few have been handed down by us. Nothing like the summer I worked just to buy a stereo, it would never happen now.

Nothing like the summer I worked just to buy a stereo, it would never happen now.
Lloydc

yeah! they'd work the summer to buy an iPhone!! LOL!

like my son's friend's mom said "youth is wasted on the young!"

When I make changes in my system I rely in part on the ears of my 28-year-old son. He can hear well in every sense. I like to think that when he has the bucks he'll invest in a good system. We'll see (of course, when I was his age I had gone through countless Mac pre-amps, a few amps and several pairs of speakers).