While this is true of online, it really isn’t of live poker. The majority of people play like they did a decade ago. If anything, there is almost an over saturation of tours right now. Tournament sizes are bigger than they’ve ever been.
The texas card rooms were a boom not seen for a decade, maybe since the Oil boom in Western Canada.
I think the main difference for the majority of people here is that we’re not 18-25 anymore, and are 30-45. You don’t have the option to live at home, you don’t want to potentially weather the variance of a bad year or two. The games aren’t worse, but most people have a good enough situation to do something “better” with their life.