It's completely ludicrous to imply that programming is somehow being led astray by young people. Young people have no power. They do what they are told.
Young people don't have to do what their told. We are raised to listen to our parents so, yes, we do what we're told for fear of being punished (grounded, yelled at, etc.). Though that doesn't mean you can't break out of that mold.
The "black box" programming philosophy was not invented by Gen Y. It was invented in the 80s at least and taught by greybeard professors.
This doesn't even make sense. You are being insensitive towards people. The entire point of learning how to program and understanding computer science is to open the black box and peer inside.
The ageism in the field is not something that is coming from young people either. It is coming from employers with the purse strings who recognize that young people are MORE EXPLOITABLE than old people and so they can get more work for their dollars.
Ageism exists in every field, but let's just focus on tech. Do you see many 50+ year old programmers? Ever wonder why? There is a bias for younger people because, yes, they can be molded (or exploited, as you put it), but it is up to that young person to identify any exploitation and resolve it. That's the only way it can change.
Old people lead every field. Young people do what they're told. Old people lead programming too--this guy just isn't one of the influencers. He isn't a 50 year old VC, a 50 year old Comp Sci prof, a 50 year old CEO, a 50 year old BDFL.
If you don't like the way you perceive the game being played, then you are completely free to change the rules of the game. It will mean you need to break out on your own, and take your lumps, but just throwing your hands up and complaining that the "old people" own everything isn't going to change anything. You are simply allowing the problem to persist and then complaining that it exists.