I have interns now, and I love having them. I don't think it was because of the 90s. Good interns (who have good mentors) have the heart and passion and remind me why I love doing what I do. Keep in mind that I started my internship in like 95 or 96 -- long before the dot-com craze really took off. :-)
And FWIW, I think internships are totally underrated. Whenever I saw my friends in high school spending their summer dicking around it always boggled my mind, even more so in college.
I never was an A+ student (though I did okay) but I did always have jobs and worked my ass off when it counted.