I personally agree with you yet ........
I see upper level managers dumping older employees due the simple fact they are drawing higher pay due tenure, more vacation and with older age comes more days off for medical in some cases.
This is the trend in a environment where standards are set and a product is cut and dry without innovation or thinking outside of the box. Cookie cutter industry for a goobermint end product can afford to dump experience and go for the cheap new college grad engineer looking for first paycheck.
Now where new and better and design is key you are correct as to “those” employers keeping the old and trusty / crusty get err done sorts vs the what are you going to do for me crowd.
Well, if the perception is that younger guys can't compete with the oldsters in innovative design why would anyone bother to get an engineering degree?
As I said, It's a Geriocracy....