Not exactly. It's not about how old you are or how long you've been playing the game. It's about mindset. You can certainly characterize the mindset of "DM as Ultimate Authority" as old school, but as we discussed in this thread 300 pages ago, many DMs back in the 70s and 80s were a lot more open-minded and flexible than some of the folks in this thread. I think it's also been demonstrated in this thread that this isn't a binary thing, but rather a continuum with Ultimate Authority on one end and perhaps a more freeform collaboration on the other.
The DM doing all the heavy lifting with world-building and story generation, and being the "Ultimate Authority" at their table, is a traditional way to play D&D. In part, because D&D in the 70s and 80s was a pretty nerdy past-time, and nerds have a tendency to be obsessive, detail-orientated, and sometimes control freaks. While D&D is a lot more mainstream today with a wider variety of folks playing, the game still attracts some pretty nerdy types.
Note: I'm not slamming "nerds", I wear the badge proudly myself. The father of D&D himself, Gygax, started out with a relatively freeform game, but he was definitely "in charge" at his table and he became more "Ultimate Authority" after he published the game, and even more so after publishing AD&D.
Ultimate Authority was the way I played when I was younger, because it was the norm. I didn't like it back then, although I couldn't articulate why. I'm much older now, hopefully wiser, and I don't want to play that way anymore, as a player or as a DM. If I'm invited to a game, I'll put up with a degree of Ultimate Authority, as many folks do still play that way . . . but there are quite a few closed-minded folks in this thread where I'd walk after Session 1. The games I run, will be closer to the open collaboration end of the spectrum as possible. I'm a big fan of the developing
Arium: Create ruleset, a collaborative RPG that is both standalone and can be used with other games like D&D.