Music tastes run in cycles. If vinyl can make a comeback so might guitars. That said, anecdotally, kids today don't do adversity; they want instant gratification. Learning to play guitar takes time, lots of it. In the current climate a comeback seems pretty unlikely.
Kind of disagree. Kids are still learning the piano, violin, etc. In my view learning how to play pop songs on your guitar is sort of an instant gratification approach to music. These days a lot of folks just use rapping or electronic production in that niche.
Or maybe I just need new friends? Maybe their kids will be different? :)