Maybe nobody used that particular two-word phrase, but that's because the language permits so many other ways of saying it -- including less vague ways, of which there have been examples aplenty.
And there are a lot more variations of options now than there were in the 80s.Its competing with a lot of other hobbies, starting with model trains and ending with programming Linux kernels.
I'd like to throw out two things that I think have been insufficiently examined. First, for high school students, the school day has been getting longer and the school year longer, while more homework is being assigned per class (test scores have still barely budged, but that's another topic). Far from being lazy, the modern teenager is far more likely to be overworked. Time to do their own thing is a commodity, and many times, I can easily imagine something fairly brainless being the focus of interest. College students, too, more credit hours each semester, more papers per class. Thus, the feeder group is really pressed for time compared to twenty years ago. Adolescence is not what it was. Let's toss in, too, smaller family sizes and kids being born later, which means kids these days are less likely to be recruited by an older sibling.
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The games are highly complex compared to in the '80s, because hardcore gamers like complexity and are the easiest to market to. This restricts appeal to the wider market. Same thing happened with wargames in the '70s.
The only way to focus is on one at a time. Are there not probably as many particular reasons for liking?As with most matters of personal taste, there are probably as many particular reasons for not liking RPGs as there are people who don't like them. Why focus on just a few?
Who is buying the most, and the most profitable, products?I postulate that a significant chunk (the majority? the overwhelming majority of people I game with, at least) of the gamer audience isn't that interested in the rules and doesn't like updates (thus the popular non-acceptance of 4e), and that those who are "rules gamers" are very much segmented into their own little niches (thus the edition wars).
The games are highly complex compared to in the '80s, because hardcore gamers like complexity and are the easiest to market to. This restricts appeal to the wider market. Same thing happened with wargames in the '70s.

(Dungeons & Dragons)
Rulebook featuring "high magic" options, including a host of new spells.