They aren't starting out low compared to their peers. They're starting out in the same relative position. The problem is that that position hasn't changed.
And it's absolutely the previous generations faults. The issue is, they're not going to get paid more than experienced workers which is what many are expecting.
It's not entitlement though is it?
To live a life of relative luxury under the care of your parents for it then to dawn on you as you enter the workforce that mathematically, unless something changes, you are going to be screwed relative to previous generations is reasonable cause for concern.
The way things are, most kids today are likely to have much less disposable income over their life then previous generations. It's a fact.