Its true it seems that millennials is less educated and probably the worst generation where even in social media their post are annoying they're main concern in life is sex, drugs and alcohol. They spend more time in online games, burning their money doing meth & alcohol and social media than spending more time in productive skill development or investing their futures into something like crypto.
It will be wrong to label an entire demographic group like this. Although I would agree with some parts of your post, I have to say that many of the millennials are even more skillful than the older age groups. I am working in the IT industry and many of the millennials who have recently joined my company are very knowledgeable in coding and programming.
In terms of skills, they are better compare to the older generation because the millennial have an advantage of having an internet but it doesn't make them not screwed because they are screwed with their financial situation because most of them are financial illiterate and they tend to spend on their wants rather than on their needs that resulted for them to be screwed and it caged them to work 9-5 for the rest of their lives.