Those darn kids. I'm 37 so I probably qualify. Trust me, we young people like good food too. But unfortunately, a lot of people aren't willing to pay what it costs to get good food, and food costs are higher than they used to be, so restaurants have to find ways to cut costs... that usually includes buying lesser quality meat and doing exactly what you describe, or buying pre-made frozen stuff since it's hard to keep staff around to cook food. Just watch the show Restaurant Impossible on Food Network and you'll see this happen over and over again.
Also, I'm a pretty good cook, so why would I go out to eat to get something like roast beef? I can make a good roast beef at home pretty easily. When I go out to eat, I want to eat something I either can't make at home, or would be a big pain to make at home (like good BBQ).
I've found that we can't eat out for a good quality meal for less than $50 including drinks anymore. Often it's closer to $75. So many people still expect a good meal for $10/plate or less. These days, even fast food can get near the $10/meal mark.