No, "late-stage capitalism" is pretty mainstream these days. It is getting quite obvious that the current way we are handling the economy isn't working anymore. No need to go full-blown communism, but we do need to do something different pretty soon.
If that something is more regulation, more wealth redistribution, more finger pointing… it’s not gonna have the effect you expect. Delusional is absolutely the correct term for how most gen-z’s think.
Using that term unironically is a coping mechanism in itself. Capitalism isn‘t going away.