Yet, it isn't very factual.
My social circle of Gen Xers is rather wide. We have stayed in touch professionally since our educational years. By our early 20's we were self-employed or working on advanced graduate degrees. We have been in our professions now for over close to 25 years now. We were doing martial arts, bodywork, going to lectures, exploring religions, doing graduate studies, and I didn't know a single friend of mine in my 20's who moved by home to live with their parents after graduation.
I know 20 and 30 year olds who still live at home, struggle to find jobs, have no idea what career they want to persue, etc.
Millenials have inherited a different kind of social mess - student loan debt (not that us Xers don't have our fair share of that), a stagnant economy, a constantly blaring media driven world on and off the internet, and the rise of the sociopathic corporate state. It is hard to 'do shit' as you say, in these kinds of circumstances. Some of course do, and many can not. That is what is meant by a generalization and then the exceptions.
Xer's were said to be slackers and yet, I have yet to observe one. The 40 something's I know are all working, have careers, families, etc.
I do not say this with antagonism. I am not bashing any generation, however, I do subscribe from my psychological experience professionally and personally to the very solid idea that there are generational differences and generalizations which can be made about thinking, feeling, and being in the culture as it is.