That's one frame of reference.
Another way of looking at it is that there have always been profit or power seeking activities that cause massive harm to entire generations, until the culture finally learns how to rise up and counteract it.
Usually the pattern is that something genuinely new comes along that we don't have a plan for, millions of people are terribly harmed, and then we sort of figure it out.
Industrialization brought great progress, but it blackened lungs and enslaved children until the progressive labor movement restored some balance. Mechanized warfare and the desire to dominate Europe laid waste to two entire generations, globally, before modern international cooperation brought it somewhat to heel. We poured toxic waste into all the rivers, we applied different laws to people who had different colored skin, we incinerated people who were unlucky enough to be born above oil deposits, all to make a few bucks.
And we've let tech media companies relentlessly commercialize and sexualize us, drive us to anger in search of "engagement" and disassociate us from each other and from our work and things that give us meaning, for at least two generations.
Hopefully we'll figure out how to move past this era too.
It's not a "kids are alright" kind of moment, it's just one of generations of examples of greed leading to people getting harmed.