Kids who want to seem cool have moved on to Go and NodeJS, so PHP is mainly left with people who got some experience and mostly know what they are doing, save for those who really just twiddle Wordpress until it sort of appears to do what they want it to do.
I suspect that PHP's ultimate fate is to become another Perl — a quite mature platform with very few people tending to it, obscure, with a community of very expensive veteran programmers.