I don't think you need to be over 50 to realize there's more to life. Some demographics are less likely to live to work v. working to live. Some demographics may not have time to juggle interview grinding with other responsibilities (children, existing job(s), etc.)
This. I don't have kids and I'm not over 50, but I agree with those people (if they hold this belief); not just philosophically, but also because I want to see a more diverse workforce in software development.