The turn out of the 18 to 29 year old vote in 1972, was the highest that it has ever been! It exceeded the overall national turnout that year of 55.2%
The democrats got 47% of the 21 to 29 year old vote in 1968, and 46% of the 18 to 29 year old vote in 1972.
You’re still using the 18-29 figures. It’s possible that the year after the <21 were allowed to vote they actually came out, but historically it’s been the worst age group on turnout. That decline after the initial burst may be attributable to the end of the Vietnam conflict and draft. Not having any skin in the game does that to people.