Maybe I should have clarified a bit better. As the knowledge base and work ethic of those 'old guys' disappears, and managers who 'rode the wave' are now still faced with making things happen no longer can hide, suddenly that experience and work ethic is more important than age on paper.
As someone pointed out up the thread, we might be seeing a type of 'Atlas Shrugged' moment, and I suspect we may see a change. Then again, maybe not. Unlike digs, some people have no problem sleeping in their own crap.