No, instead, you have the much greater living quality issues associated with the places you mention, which is why SF/SV are more expensive places to live -- people are willing to pay a lot more to live in SF/SV than in, e.g., the Central Valley.
Partying definitely loses it's luster (at least for me) but the opportunity for meetups, learning about new tech, etc. hopefully doesn't. Clearly it's a balancing act but everything in life is. How much time do you want to spend with a spouse, kid, hobby, exercise, work, meetups, relaxation, sleep, etc. People are here because they want to have access to all these options. I'm 41 and still excited about all that is available here. So maybe I don't want to grow up. :-)
Everyone has different ideas about how much space is necessary. Up until recently homes were really tiny and it varies greatly by country (ref: http://shrinkthatfootprint.com/how-big-is-a-house) I agree that the kids should be outside playing in parks and riding bikes and all that jazz and not in a tiny apartment. But then we have the "safety" fears when the world is far safer than when and where I grew up.
In my life I have lived in townhouses, an efficiency, rented a room in 2 houses, rented a whole house, lived in a dorm with roommates and lived in a big house with an acre back yard. They all have their plusses and minuses. I have not yet owned a house myself though. I would argue it's better the kids live in a small apartment than their parents have 2 hour round trip commutes because they had to switch jobs after they bought a house. I put a lot of value on the ease with which I can move closer to my job.