People still had to execute & work hard.
That hasn't changed & many respects has become easier due to jurisdictional arbitrage & the ability to make an income from your computer.
Discussion
What you're saying is a half truth.
How many boomers traveled as much as we do now?
How many now use Uber eats for their food source?
We need net income, not net worth to compare it properly.
Also take into account that the next generation will inherit all the wealth & it's being shared anyways.
If anything were just riding the coat tails spending monies because there's an avalanche of inheritance monies coming.