It's strange how it's become a derogatory term for "lazy, young, individuals" when people have been bashing younger generations for thousands of years.
Yeah, the generation before mine talks shit about my generation, too. No shits given.
When I rip on Gen Y/Millennials it isn't serious. I have a lot of younger friends. I do feel they are a bit thin skinned. They simply react differently to the same criticism that my generation got (and the gen before that, so on.) I think it is simply a reflection of how society has changed in its approach to child rearing.