Which is bad, but what is worse is Development feels like a "young persons game". Rarely do I see anyone over 45 (not far off) coming for an interview
Meh. I'm 45, and see no reason to believe I won't be writing code for another 20 years. I work with several guys in their 50s and 60s.
I think most of the apparent dearth of graybeards is just the growth of the industry. If there are an order of magnitude more software jobs than when I started 20 years ago, and if software development is a career that people don't shift into at a later, but start young -- which does appear to be the case -- then we should expect 90% of positions to be filled by people younger than me. If you also factor in a fair amount of attrition from people choosing to shift into other careers, whether into other fields entirely or into sales or management, then you should expect that the number is 5%, or even less.