Judging by all the youngsters (I'm 74) that attended AirVenture I'd submit that things are anything but bleak. I'd also suggest that the many sim flight opportunites allow for a VERY affordable entry into the wonders of aviation. For a one-time outlay of perhaps 10-15% of the cost of a Private Pilot ticket a home PC can easily be fitted with a pretty comprehensive array of sim hardware. I'm a fan and happy user of the Microsoft product and for ME it fuels the aviation passion my meager resources will never be able to fund in 'real life'.
With rampant inflation realities for everyone and actual 'flight' now being a sobering initial investment and an onging substantial draw on limited discretionary monies, I am not shocked that the target audience IS somewhat selective and perhaps even declining. But I believe the desire is still out there.