Kids will go to School V2 and have absolutely nothing in common to talk about because each one will have completely unique media entertainment at home.
It's certainly something that has people worried. I suspect a population decline and unbalanced demographics with too many old people per working age person are pretty much guaranteed. But personally I don't think it will be catastrophic civilisation level collapse. But at some point things will rebalance and turn the other way as resources, housing and such become more abundant.
I'm also hopeful we sort out the problems with big tech eventually. I was initially against it, but I'm starting to think Australia's plan to ban under 16s from social media is actually a very good idea.
This is already the case with the myriad of streaming services and choices of what people will let their kids watch or not. With my little kids, we tend to mostly watch PBS Kids content with a bit of Disney shows mixed in when it comes to screen time. We try to avoid seemingly empty hyper-stimulating content like Paw Patrol and others. But in the end a lot of the other kids in school/daycare talk about these shows and others, which can lead to the kids not having that kind of shared context. For instance, my four year old loves Wild Kratts, but practically nobody in his class knows the show. Meanwhile, he doesn't have any context for the various characters of Paw Patrol.
As a parent of pre and actual teens, this isn't "becoming", it is the de facto standard. Minecraft, Roblox, Fortnite are our kids' third place https://en.wikipedia.org/wiki/Third_place
But if the marketing fueling the industry is to be believed, every parent will be able to build a tailor-made game for their child. I know that won’t really how it’ll turn out but it’s a funny exercise to think about.