A lot of it comes down to expendable income---older audiophiles have the income to buy more expensive equipment than the younger folks. Plus stereo equipment back then was not as expensive as it is nowadays. Some of the younger audiophiles I follow on YouTube are into headphones and smaller headphone amps. Some of my younger friends are getting into vinyl but they're not into 'fancy' stereos (yet)---they get their enjoyment out playing the records. I just posted something similar to this a few days ago.
Where are the young audiophiles?
I find it alarming that 95% of all audiophiles are seniors.According to a consultant at my local HI-FI store,young people don't seem interested in high-end equipment.They listen to music on their phone.Sooner or later, all the great neighborhood HI-FI stores will not be able to remain open. Kind of sad,don't you think?