I think we're still in the middle of a process of adjustment, seeking to balance the changing expectations of a new generation of workers with the expectations of employers. It's a process that accelerated somewhat under Covid but has slowed again. There is room to give on both sides.
I don't think some of the 'demands' young people make are actually that unreasonable. Employment conditions would be much better for them.
Why should unpaid presenteeism still improve career prospects? It entrenches inequality, penalising those with caring responsibilities (usually women) or those dependent on certain public transport for example. Take on more staff if you need people to work 12-hour days while only being paid for 8. If you can't afford to do that, your business model is not viable and is being propped up artificially through exploitation.
Need endless flexibility? Offer some compensation in the form of pay or perks. Don't want to guarantee minimum hours? Say so in your job advert in a truly transparent way so only those who don't want the commitment apply rather than being trapped by false promises on 0-hour contracts.
Don't want to offer WFH or hybrid? Why not? Some jobs have to be done on site. Others require some site-based networking to ensure strong collaboration. Fair enough. But if the only reason you object is because you're worried about a drop in performance, sort out your performance management processes rather than refuse to keep up with the times.
However, some young people (certainly not most IMO) also need to recognise that social media is not an accurate reflection of society. Instant success and gratification does not occur in most careers and you need to prove yourself to create opportunities. The world does not owe you a living, even while our society does owe you a fair crack at it through education, a stable economy and good employment law. The rest is down to you and you have to demonstrate you are worth being given those opportunities.
I think these discussions are a positive thing in a healthy society. And as long as they continue at a pace that keeps up with technological and social change, we'll find our way through and probably be better for it.