Creativity is still there, it's just on other platforms and / or through other media besides the web - tiktok, youtube, roblox, podcasts, fanfiction, art sites, etc.
It's still there, but you have to look AND be interested in it. Many of us were only interested in e.g. newgrounds and ignored deviantart. Many of a younger generation are only interested in e.g. tiktok and ignore tumblr.
Overall, I think it's fine, and / or the kids are alright.