So true, it's our family story too. I took my kids (I'm a babyboomer), and then took our grandkids later on.
We haven't been since 2020 right as covid started. Since then we have had no interest due to certain changes, etc.
We haven't offered to take the kids/grands and they have not asked.
I think Disney missed the boat with their image to kids now. When I was younger, I used to watch WWofD and other disney related shows. There was no internet at that time! So it was tv or the movies. We were immersed in Disney as kids and wished we could go one day. My parents couldn't afford it when we were young, so I always had that wish. We were lucky enough to be able to go as adults and to take our kids. We went every year, or more, and were the ones who gave help with everything Disney to others. Other adults wondered why we only vacationed at Disney and couldn't understand it. We told them that we loved it - the atmosphere, the CM's, the way you were treated as being valuable and wanted. Then things changed, for us. I know other's don't feel that way and I am glad they still love WDW.
My grand kids and their young children have had no desire to go back to WDW, at all. They have gone to Universal a couple of time and loved the atmosphere and offerings there, and other theme parks and state parks.
So, what I'm trying to say is that IF we had kept going to Disney, loving it, and going with family, the kids/grands would have continued that habit. Now there are so many other venues for the kids/teens, and most of those are not Disney.
So our generations of being a loyal Disney family is over, and I doubt they will be back. We won't and they seem to have No interest in WDW anymore, due to a lot of reasons. I fear that this is happening to alot of families who will not carry on the tradition of vacationing at WDW. Will that affect them in the long run? I'm not sure but believe it will to some extent.