If you consider sex, drugs, and alcohol to be forms of "stuff to do" then it sorta sounds plausible but why driver's licenses? Why not sports or extracurriculars? Why not video games? Why are tabletop rpg getting more popular?
You could just as easily blame ubiquitous access to porn for most of this as well and it would be just as plausible.
Anecdotally from my social circles: youth already hang out online, with any or all of their friends at the same time. Why go somewhere just to see fewer people? And once you're there, are you going to do something besides chat and play games, which works fine online?
Older generations saw a driver's license as freedom, but younger generations don't see as much appeal in what a licensed driver is free to do.
Teens are living their lives vicariously through other people. Capitalism has finally created the perfect consumption slave. They buy what they're told to buy via peer pressure feedback loops and stay at home contended with their entertainment bubble.