We're in an era of hypercompetition, increased barriers to entry for even menial jobs, massive wealth concentration, vanished upward mobility (and easy downward mobility), stagnant wages, credentialism, offshoring/outsourcing, and vanished company loyalty. Viewed in this light, reactions of students to every negative statement or bad grade is completely rational: with the incredible number of people applying for each job, and the ever-increasing requirements to get one (looking at GPAs, etc.), students know that even minor issues now can mean large issues in the future.
Maybe students aren't hypersensitive; instead they're hyper-attuned to the realities they're facing:
https://news.ycombinator.com/item?id=3999248
https://en.wikipedia.org/wiki/Credentialism_and_educational_...
http://econlog.econlib.org/archives/2011/11/how_elite_firms....
http://www.theatlantic.com/business/archive/2015/09/ernest-y...
Another thing I'd add, which is related, is that grit, while important is far from sufficient for success. It would be great if this was more widely appreciated. I wrote a short post on it: https://medium.com/@opirmusic/the-character-hypothesis-neces...
Side note: I tried to comment on the article, but the spam filter there is incredibly aggressive.