I think there's some definite truth to that. Since the mid-1960s at least, the western world's culture has seemed to be more oriented towards youthfulness, while in the prior times it seemed to be oriented more towards classiness. Obviously these are just sweeping general observations though and there are certainly many counterexamples to be found in both times. Stuff like this is never either/or, or black & white. Even though I'm from the latter era, I'm still not going to pass judgment on either time.
Oh yeah, and these trends have gone full bore in recent decades. See how comic books have evolved into higher quality graphic novels and big budget movies that some seriously say should be thought of highly in a critical sense. Or the boggling variety of sneakers now available. But to the naysayers, I'm not complaining or criticizing ...