Urriak Uruk
Gaming is fun, and fun is for everyone
You're right in general but for me 5e is the best edition I've played. By far. It rekindled my love of the game. My memory is hazy but I feel like I'm more enthusiastic about it now than I was as a 12 year old.
This is true! In an ideal world, D&D will create content that both brings back in old players and invites new ones. This is what Wizards is trying to do, and honestly I think they've done an incredible job, and that's why it's the most successful edition ever.
But of course this isn't going to satisfy everyone. As people here have said, the older players want updates of content they played when they were younger (Dark Sun for example), or they want more player options to keep the gameplay fresh.
So content like Critical Role, Rick & Morty or Acq. Inc. is going to be frustrating to those people. Now I think that a lot of content is being updated for older players (Eberron was just updated, and Descent into Avernus feels like a Planescape adventure).
I think it's pretty clear that fresher and current content, like Wildemount, is perfectly capable of making money (it is now #2 on Amazon for D&D books). This isn't always the case (Rick & Morty is #17, and Acq. Inc. is #33). At the same time, Eberron is #4 and Xanathar's #5, so older gamers are driving purchases too.
For individual products, one is tilted for one market or another. But overall, it does not seem to me like Wizard's has very narrowly defined who its target market actually is. I fully expect at least one product this year to be released which are meant for more established players.