Youth haven't been conditioned and molded yet by their industries, they're young, stupid and make mistakes and in the process find new ways of doing things. Because they're young they don't have experience nor families to take care of, and thus will take low wages. They don't demand too many benefits, and you can work them like mules. They also flood the market and are over supplied and under demanded. The average game developer is a 31 year old white male. As soon as they start settling down and wanting to have a family they leave the industry. They burn out, and they are replaced.
It's not the "right" way for every company. Valve and other companies do the opposite. But for most of the industry it is a cost of doing business.
I could have chosen to be politically correct or realistic & honest. I chose realistic & honest.