I've seen college kids text using no caps or punctuation of any kind
except maybe, a period along with many mis-spelled words. But then my
grammar is far from perfect.
The reason you are seeing this is they spent their youth, or rather came up through their youth..via texting. Texting keyboards require far too much effort for most to bother to punctuate properly.
It's a dead giveaway (when reading a text of mine) that I was an adult when texting became mainstream, as I do the extra work of punctuation and use all the extra characters that are on the second layer beyond the basic qwerty.
I admit that having to do things correctly stops me from texting at all. I won't willingly misspell and use punctuation incorrectly and I don't want the extra effort of dealing with this micro miniature keyboard crap, so I simply don't text.
The first company to address this issue in a simple easily utilized and intuitive way, will probably win the next bout of smart phone sales wars. Perhaps some company already has.
I don't like 'dumbing down' phones, so I stay away from them. I talk with people. I call them. I speak with them in person. I sit at computers and compose emails.