I'm starting to bristle at this attitude because I'm encountering it more and more often. The implication that others (the young) "make you" obsolete is just BS. Most professions require one to keep up with new trends, and programming is no exception.
The other implication is that management is some sort of Golden Acres for people to end up in when they can't keep up with their younger and sharper coworker, ostensibly because it is easier, slower, or doesn't have new trends? This should be similarly annoying to managers.