The article also mentions that earlier ending events made to accommodate aging millennials have seen an unexpected and huge interest from Gen Z
But yeah, the decline of the nightlife and hospitality sector is what this article is about, as the regulated rave experience is very mainstream and has been for a long time now
The production value is quite high now and still improving so I don't see why the illicit rave experience would be so interesting when the facilities would be so lacking in comparison. There are lots of electronic dance music events on boats, cruiseliners, retired battleships and more.
Music festivals are bigger than ever though, and they are so frequent and numerous that you can go as frequently as people were going to clubs. I have multiple friend groups where that’s all they do and it is far more intense than just being out passed 3am, although many do officially end their main programming at 1am, many don’t.