As I have stated many times on this forum, O gauge/scale is a big tent with lots of options. For me the only reason I got into O scale was after I discovered scale O and accurate models of the railroads I enjoy modeling and operating. I have continuously been into trains since my first HO set at age 7 in 1976 but didn't discover O until 2003. I do have lots of O trains of 50's vintage, but they tend to fall into the All-Nation, Walthers, and Athearn side of the hobby.
It is hard to define "young people" in this hobby anymore. I know several 2 rail master modelers in their 20's-40's who mainly collect fine scale brass that I couldn't hope to afford. I'm the youngest member of my TCA Division as far as I know and I'm 52 this year.
The best part of the hobby is that there isn't a wrong way to do it as long as you enjoy what you are doing.