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This has still not happened.
Boomers are still a massively oversized voting demographic, so vast quantities of political energy are still spent on them.
They're also typically more susceptible to modern propaganda techniques than any subsequent demographic.
The bulk of modern propaganda is trying to stop people from seeing and tackling the issues causing the problems. If people get angry at immigrants, they'll not point their fingers at the ultra-wealthy who are actually causing all the issues pricing them out of living their lives.
The people in power are predominantly boomers and gen-Xers with views that align with boomers. There're practically no millennials in any position of meaningful power across most of the world's politics. The more radical gen-Xers were never let into the establishment parties, so they languished in the political cold unable to get enough votes under FPTP based systems.
No one can really change shit until the generations go back to being roughly the same size as each other. Hopefully it's not too late to fix things by that point.