If every generation basically gets what they want in the important elements of their lives, but new generations want different things, the ones privileged enough to have a massive audience will always see decline.
It's not – it's just, other people having other preferences – but if things are essentially optimized, all the trade-offs made the way you like, then any change would make things worse.
Don't get me wrong, I still don't like social media. And I'm skeptical of the hyper-low-quality children's programming on YouTube these days. There are legitimate things to improve, but I think everyone sees them as sub-optimal.
And there's also plenty of things where people don't get what they want. It seems a lot of Americans want more kids than they end up having, which is a shame. People ought to get what they want, particularly for their families.
But it's worth saying that "oh, things are getting worse" isn't something idiots say because they have no perspective and don't realize every previous person who said it was wrong. It's true – from their perspective – and their error is merely of wanting what made them happy for others. These days, I think we know we should want happiness for others, not that they use our own recipe. Even happiness there is a wildcard, a substitution for the plurality of values we have, different from each person to the next. I want you to succeed, perhaps that's a better way to say it. Have the life you want.