I often see that point of view when I discuss with friends in Asia (where living with the parents is much more prevalent). Let me offer an anecdotical counter point. I have a grandmother, she's getting old (85 years old) and things are much harder than they used to be, she no longer can easily go shopping by herself or clean the house.
We've asked her multiple times if she wanted to live with us or our aunt, every time she's refused. She wants to stay independent and instead hired a helper who comes everyday for a few hours and helps her with the basic tasks.
We often come to visit her but she doesn't want us to stay too long or too often for the same reason. She values her independence. So, yes I see the point about living with aging parents but it's also good not to deny the independence of those same aging parents.
The Asian model of staying at home with the parents does have a lot of tradeoffs too. Usually the wife needs to move in with her husband's parents and this is not easy at all for the wife. I've seen a few divorces that were due to conflicts with the in laws (which are much worse when you actually have to live with them). I also have a friend whose parents had a big house and lived together with all their sons and the parents decided to sell that house, buy separate houses for each of their sons and live alone because it was just too much headache for them.