I really doubt the new generation would not enjoy LSRP. I feel like if it's done right it should be more appealing than any other GTA V server especially to young people. GTA V Roleplay has a lot of potential in terms of what roleplay it allows. What needs to be done I am less qualified to say.
Also this does not have to become a dm fest or lose it's core for it to be great.
Returning back to the topic my main reason why I am not logging in as frequently is just I am not sure if I am wasting time or not. Wasting time on SA-MP as a teenager was fun but a lot of players are older now and it's, for a lot of us, not the same anymore as sad as it sounds.
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