The answer to the title question cannot be perfect. It will be always be relative.
The earlier generations had their own engagements and involvements as per the opportunities and facilities available in their time. Present generation have their involvements and engagements as per the opportunities and facilities available now. Even the current youth, when they become old, may feel that the further next generational lost the charm these youths now enjoy. It will be perennial like that.
In our generation we played game on a large ground, but today children need a space of just four or five inches(that of mobile screen) to play games. We enjoyed in our own way, the present children enjoy in their own way. The children today may feel how the elders lived without mobile, earphone or Google. When we say today's children have lost a lot of old charms, today's children will be feeling exactly opposite-poor elders, they never got the enjoyment and charm that today'kids have.
So I do not endorse the views of the thread. Today also holidays have their charm. Children get to play mobile game, visit 3D,4D theatres,Video Chat, exchange a lot of pics and messages,always be in touch in real time.
Just like Mother Devaki had seen the whole world in the mouth of child Krishna(Lord Krishna), today's children have everything in front of them,on their command just on a click. Are not they enjoying in their own way? Is it not we the elder generation who have lost the charm of our holiday as we have grown and there is nothing new to do?