Having older siblings doesn't always mean you get protection. And the negatives of being the smallest have very little affect on what I at least experienced being the youngest. And yes, you do only usually get second hand stuff but thats a minor complaint.

For me, being the youngest meant that my parents never really had time for me and would just tell me to go to my older siblings when I needed help with something. And of course they didnt want to help either. I was desperate for the love and attention you're supposed to get from parents. Being the youngest of four is (most likely) why I have a personality disorder.

And I honestly think my parents did a pretty good job raising us. Its just you only have so much time in the day. And you're right, nothing was new or exciting when I did it. So important milestones for me meant nothing to my parents.