Two-ish decades is the standard length of a trend cycle. 00s is now retro in a cool way. Gen Z/Alpha, who have grown with phone cameras, want a different look, and having a real flash is particularly attractive because it allows taking reasonable photos in night clubs etc. Just like we did back in the day. (browsing old Facebook photos)
The stuff about "generations" and trend cycles is nonsense.
1: They charge $10-20 per a quick autographed shot for a parasocial irreplaceable memory with an absolutely random female cafe employee, which justifies quite a significant range of film costs. Crazy, but it means they industrially consume medium format reversal films! I'm not complaining for that.
When gen z does use phones they end up running the images through apps like 1998 cam to make it look like digicam photos or using effects to turn video in to VHS camcorder style video.
A 35 mm film camera is still much better quality than my smartphone's digital camera, especially more than a few meters away or in lower light conditions. But my smartphone is the camera I actually have with me, I don't have to buy film or wait for it to be developed, so that's what I use.
People were so proud to show off their colors that every single word was in a different color.