To me this is more about our reduced attention span than no upward mobility. People want instant returns now and cannot imagine building their wealth slowly. The middle class is at the top of this since they have the money to invest.
This is the most boomer response. The idea of a long horizon to build your wealth against implies some faith in the future, which a lot of younger people no longer (righfully) believe in. But for a lot of the working public it seems a lot like they will not get to benefit from a future promised to them, and so have no stock in trying to work with the system to believe in it.
