I had much more fun with a 6MHz Z80B and 64kB of RAM, CP/M, and a C compiler than I've ever had playing with anything since my first XT clone.
Me too.
But electronics in general has also become much less 'fun' because all the new and hot hardware requires you to spin a whole multi-layer PCB just to get it up and running in the most basic ways.
This isn't even remotely accurate. What is true is that you have to learn a new soldering technique to solder SMDs -- but once you learn it, it's easy.
You really can't go very far with perfboard and a soldering iron anymore, not like you used to.
Yes, you really can. Honestly, I do it all the time.
Also the days of surplus stores is long gone, and much of my materials came from such places.
Yes, true, and that's a very sad thing. However, there are heaping piles of discarded electronics to be had for cheap, and you can cannibalize. And what you can't cannibalize, you can buy new for cheap online.
There seems to be little to discover, and the younger generation seems to turn their nose up at anything that isn't strictly digital.
This is also not true. The hobbyist electronics world looked like it was dead for a while there, but it's come back in spades -- and most of that new energy is coming from the younger generation. It's us old farts that have largely given up on it. The kids are off and running with it.