I echo some of the other posts on here that it's a slow burn and re-emerges when more settled in life. I had a model railway as a kid and loved it (i also had mega drives etc. so computer games didn't deter me) but I moved onto chasing girls, going to University, moving around renting a lot until i got married, bought a house and had kids.
I picked up interest in history and studied it in University along the way, particularly Victorian/Edwardian periods. Then when looking for places to go with young kids for walks stumbled across many old railway lines that have been re-purposed. This sort of perked my historical interest. We went to a lot of these in Peak district, Wye Valley etc.
Then as I got a train set for my eldest it rekindled the interest for me (I used to do Warhammer etc. before kids). Now it has become more my thing as he's interested more in "robots" but he likes controlling locos a lot. Now it's overtaken and become my thing. Built an insulated shed in the garden and away we go. I'm full in again and still in my 30's.
So I wouldn't say it's dying just probably similar to a lot of people in that during my teens, 20's and early 30's I had other things going on.