My first job out of radio (and college) was at a marketing agency in 2018. In this job, I had the chance to learn a lot about the tastes and interests of young people. My personal (and likely controversial) opinion is that radio is not necessarily responding to the interests of young people effectively. In my previous job, I got to have an insider's perspective of what kind of music younger people stream. To my surprise, much of the music younger people like are songs that you would never hear on the radio. As you would expect, the younger audience does gravitate toward hiphop, but not the kind of hiphop you get on the radio. For the sake of example, many of the artists that young people were interested in are artists that a hiphop radio station would never touch. Radio stations can't deviate too far from "tested" programming, but it does seem a bit problematic much of the playlist is music that the younger people aren't really interested in. Yes, people in younger demographics are interested in CHR, but as someone already brought up, this is a format that tends to lean toward a female audience.
Personally, I'm 26 and think that KOSF is one of the best radio stations I've heard. While this station fits my own taste, I feel like there could be more to it than that. Clearly, KOSF is programmed by people who were working in the business when the core of the classic hits music WAS top 40. They know what they are doing, and know how to program a classic hits radio station effectively. I would argue that there could be a disconnect between what younger people want and what they actually get on the radio. Most of the radio stations targeting this demographic are programming by those who are likely outside (or approaching the outside) of the core listening demographic for this type of music. Audacy alternative formats have been criticized for going in a new direction, but Audacy was not necessarily wrong to do this. While the new approach deviated from my taste, some of the new artists that made the cut were those that I only learned about from my previous job.