The idea that "TikTok is for Gen Z" seems like a very stale meme, although I only have anecdata to back that up.
Microtransactions are way older than 15 years. Wizards of the Coast was selling randomized MtG booster packs in 1993. I'm guessing that the earliest loot boxes for kids were baseball card packs, with very similar psychological purpose to today's game cosmetic collectibles.
> I'm guessing that the earliest loot boxes for kids were baseball card packs
Baseball card packs are an innovation. If you read Peanuts, you'll see that they're referred to as "bubble gum cards", because cards were included as promotional items in packs of gum, a "free toy inside" that was compatible with the size and shape of bubble gum. They moved to dedicated packs of cards when people started buying gum to get the cards.
I totally agree, but it’s just easier for people to accept something if they grew up with it. Sure there will always be people from older generations dabbling with new stuff. But quite a few people refuse to change their behaviour as the age. I wrote them as examples, because it is the biggest contrast I can see in online behaviour between myself and my nephews/nieces plus their circles.
I think the main difference is digital vs physical goods. I know it's minor since a card is just a cheap piece of cardboard, but it's still something tangible (unless the game cosmetics also include a physical item, in which case...I'm dumb).
When WotC first offered digital cards, they had a system whereby you could redeem a complete set for its physical equivalent. At the time this helped convince naysayers they weren’t giving money for nothing. Twenty years later, with their latest online offerings, nobody really cares. I’ve certainly spent more money and had more fun with online Magic, and when I wanted to build my own cube I just got proxies printed anyway. I think the “collectible” part fell away a long time ago and now you’re happy just paying for an experience.
If something isn't digital today it isn't as real.
A physical photo in my hand is sooo limited compared to the same photo in my hand via the screen on my smartphone. Same with a DVD or CD or Disc - all antiquated tech.