But people still are fans of rock music in Gen X and beyond. My parents are in Gen X and still are fans of the same kind of music and movies they were as teens. In fact there's been an 80s cultural revival recently in pop culture meaning that younger generations are enjoying the same kind of media that Gen X did. I don't understand where this argument that "objects of shared meaning" are being lost thereby causing disconnection and ennui. Because while technology has changed, the art remains available to enjoy, and in fact has a wider audience now than ever before.
So if it's not about consumption (record stores closing, malls closing) but about the loss of culture (loss of music/art, loss of a way of life) that argument falls apart because the art ISN'T lost and you can find and connect with people who share your tastes and memories and fandom easier than ever before.