It doesn't matter what the populations of the users are! My partner uses TikTok, and I do by extension.
The only place demographics matter in this argument is how they affect where and how the money is being spent.
Incumbents are turning our field into a fiefdom to lock in eyeballs. Some of this is just unconscious natural evolution because of the gravity their decisions have, but some of it is quite deliberate.
Google shuttered Google Play Music because it doesn't have the numbers they want and they have another internal effort that duplicates the functionality. With one choice, they changed the music listening behavior of millions of people. YouTube Music sucks at discoverability and favors replays of the same music.
In the old web, this didn't happen.
This is a small, unimportant anecdote. It's a drop in the sea of changes that are turning the internet to shit. There are hundreds of events and changes I can point to.
I'll cut to the chase:
Google, Apple, and Facebook need to be split up by the DOJ. Google shouldn't have a browser or any say in web standards, AMP should die, Apple shouldn't lock down iPhone, and Facebook should have extremely flexible data portability.
All of these companies should have their ad units stripped away and instead do bidding. There are too many negatives (spying, ads disguised as search results, etc) to having these in the same business units.
I haven't touched on it yet, but the Cableization of streaming is also something we need to address. It's a very close parallel to what's happened with the walled gardens.
At the heart of the issue is anticompetitive behavior and how it erodes the commons.
This has nothing to do with Gen-Z and everything to do with FAANG.