These days it's become much simpler to put together attractive videos which is why so many kids want to become streamers. Buy a nice camera and a few lights and you can produce media that looked like movies I watched as a kid.
Two thoughts:
1) I kinda agree, and it's interesting how many of the founders of game studios who are now retiring, got their start on the 8/16bit home computers as teenagers making games that were the AAA titles of their day, because the upper bounds on game size/complexity were so low.
2) There has never been a better time for free tooling and instruction for kids who are interested in building games. Unreal Engine 5 and the thousands of hours of youtube tutorials for it, is quite a starting point to have. It puts the Shoot Em Up Construction Kit that I would have spent hours in, in the 90s, to complete shame!
2. 100%. I mean, I know many in my cohort who got interested in graphics programming by playing with Gary's Mod. There's still plenty of ways to make games or programs for friends. I'm still convinced that the kids (with stable/solvent home lives) interested in programming and making a computer do their bidding are supremely capable. I mean today learning a bit of Javascript is all you need to get started on the web.
I do think we lost something when Flash in particular died, but less apps/games (there are... a lot of very, very indie games made these days by solo hobbyists or enthusiasts, check places like itch.io, it's an overwhelming number) and more the independent animation scene, which was huge during the heyday of flash but seems mostly dead now.
You just have to write it in HTML and Javascript.