When I was a kid, I could go buy a book, hit control-reset on my Apple IIe, and start writing code. Later I got a disk with an OS on it so that I could actually save my programs. The first thing I ever wrote beyond hello world was a half-assed Zork type game.
Then I got a modem, and could get on some BBS. The internet blew up, and I could get information from AltaVista about everything that I happened to look up. All of a sudden I could write programs to do far more than I could have ever imagined on my Apple IIe.
Is it fun today? Kids now can 3d print pretty much anything. They can make games easily with tooling that didn't exist when I was younger. They have access to the sum of mankind's knowledge. They don't have to write sorting routines anymore, since every major language has a built in function to do just that - better than whatever you throw together would do.
Sure, it's different, but the tools just got better and better. There are annoyances, like ads on every damn thing on the internet, but looking past that the sky truly is the limit.
How old is Second Life? Like 12 years or so? That's an amazing thing to think about. An immersive world that you could customize to your heart's content, and it's basically dead. When I was a kid, the best we could have hoped for would have been better referred to as "third world."
Is it the same as it used to be? Certainly not. Is it no longer fun? Only if you want to do exactly what you used to with those same limitations.