I don't know if the hobby's changed over the years, and frankly I don't care. I still get excited when a train comes by the house, and (if the timing's right) will pull in at the Leavenworth (WA) depot/team track to watch Amtrak stop. Helps that my wife's a fan.

The only difference between now and riding my bike to the Royal Oak (MI) depot to watch #21 leave for Durand 50 years ago is I don't take pictures much anymore. Two reasons. 1) I'm not a very good photographer....I've got the slides to prove it....and 2) I realised one day I spent nearly 40 years observing trains through viewfinders. Now I just watch.

Don't worry too much about the hobby. It appears to be doing fine. Sure it's changed, scanners have replaced helpful station agents and digital photography has taken away the thrill of going to the drug store, but nothing else has changed much, at least not that I can see.....