Agreed that we need young people in the hobby. Even if only a small fraction of them migrate to vintage, that is still a lot of people. And without them, the National and other big shows might not even be viable.
I recently started dabbling in modern, and it is utterly confusing. For example, there are
63 2018 Shohei Ohtani Rookie cards by one estimate. That doesn't include any of his cards in a Japanese uniform.
Another thing is how much the TPG matters. If you don't go with PSA, good luck selling your cards for a decent price. A 2018 Topps Chrome Ohtani paper (not the refractor) goes for about $350 during the past week on ebay. The same card in an SGC or CSG 10 goes for about $230. If you roll the dice and get a Pristine 10 by BGS, you can sell it for about $550, but if you only get 9.5, it sells for less than half of the BGS 10.
It makes you wonder if you can break out an SGC, CSG, or BGS 9.5 and get a 10 by PSA for some relatively easy money.
With all of the speculation and volatility, it is just gambling. I don't know if the kids gambling on modern will get the same rush they do from buying vintage. Obviously investing of any kind is speculation and a form of gambling, but some of this modern speculation in players that haven't made it out of single A takes it a more disturbing level.