It’s both. Most young people in the western world have many luxuries, things to entertain them, all their basic needs are met.
I think they have more superficial pressures probably than 100 years ago. Clothes and other material things were less important to impress other people.
Gender roles were fairly defined a long time ago, which has positives and negatives. Teens today are overwhelmed with trying to figure out what to do next, what to study, what career, so many options. Less pressure to marry than generations before. More pressure to be completely independent.
Many families tend to be more disconnected now, at least in America. I mean extended families, less contact with reatives who can be helpful to guide children. Not most families, but enough that it is worth mentioning.