I was an audiophile in my teens. But, I didn't purchase a pair of serious loudspeakers until I was 40. By then, I had a house, children who were past the toddler stage, and a bit of disposable income. I suspect I am not alone. Give the Gen Z kids time. Chances are at least some of them, 5-10%, will discover what a decent audio rig can do for their music. That's enough to keep the industry afloat, I think.
More potential bad news for some big names...