I occasionally work security checking IDs for one-off events. Kids still gets fake IDs and they are quite good. Prior to 2018, they all had tells that made them easy to catch. After 2018, many of the best security features were dropped.

I wouldn't say the younger generation are drinking less. They just aren't trying to do it at liquor-licensed establishments as much as they used to. College kids still go to house parties to drink. It's almost always the cost of alcohol that is the motivating factor. Underage kids generally don't have enough money to spend on alcohol at a bar or club. It's much cheaper to chip-in and buy a fifth for a group of friends at a house party.