Right. People should be less concerned with competing with people in their 20s and more concerned with how they are going to keep up with the other people their age who instead of doing fun, hacker, startup stuff and chasing money spent their time being the "stupidest" person in the room and learning the (an) industry.
When you are a junior engineer you just crank out code and the level and employability of your skills automagically increase. But after some time this free lunch quietly stops. You suddenly have to manage your career.