Yes, kids now will learn less than we did (my youth was the 80s). They will be taught that low-level details aren't necessary and move on to higher concepts. However, they will have little ideas of hardware and its evolution - like why we have memory cache mechanisms, or what is a boot loader. I still remember writing an sorting algorithm in assembly and feel that my knowledge now is firmly rooted in those my intimate knowledge of those concepts. Though, I still have hope...