This is true and good, so long as you're interested in making software that can be done entirely with existing technologies. As soon as you hit the brick wall of "but there isn't anything in the standard library that does this," you need the old graybeards who spent their entire careers making the standard libraries you rely on.
Speaking as one of them, the pay and hours are both good and it keeps me on the cutting edge of some fascinating technologies.
The common idea is that we over-40s who've been doing this professionally for 25+ years can't adapt to modern software dev practices. Quite the opposite, really. Mostly we're kept so busy that we don't have the time.
None of this is meant to disrespect what the younger generation does with (as you say) "connect the dots library calls". That code needs to be written, and it's best if it's written by smart people who care about their work. :)