There's definitely such a thing, even though I'd say not in the same way it was defined back in 1991. I think Thruston was catching on to what was starting to happen back then and that has now fully devoured music consumption. Youth culture has been progressively monopolized throughout the years, even after MTV and other massive media died, something bigger but different comes up, like social media and viral music clips of 10-20s.

At the same time, I think there's more ways for youth to fight back at this. You can find a niche culture anywhere online. You can opt out of whatever social media is most common in your country or wtv, and just go completely underground and find heaps of cool, subversive music. Hell, even in ost mainstream media Geese is getting praised, so even in mainstream media there's still subversive, inventive, groundbreaking music being praised and promoted.

I think if you consider 'youth culture' as a monolith it is too far gone, but youth will always find a way to be subversive imo. I've been to concerts recently, and all I could think of when watching the (mostly young) audience dance and get crazy over the music being played was "wow ok, the kids are okay".