I agree with you that the reason young men aren't approaching might be the current climate of dogged emasculation, but I think that climate is mostly fake and exists almost exclusively as a projection of the media. 
Men are clearly afraid to approach, and I think the climate of emasculation is largely cope for neurotic men to avoid making a decision. 
Otoh, increasing social isolation plays a large role here. People staring at their phones in public etc.