You make excellent points, but I often read about the younger generation eschewing car ownership.

I think cost is a major factor in that decision, and we all know that costs are being driven through the roof due to luxuries being deemed necessities.

Value on classic cars is always tough to predict, but with careful maintenance there is no reason why 20k/yr would result in a significant loss (although winter would definitely be another story).  Ten years ago an 02 in fairly good nick could be had for about 4K.  Similar examples are now north of 15.   A ten year old Toyota in reasonable condition is worth maybe 5.

If you live in a mid-sized city and/or are handy, there is no reason to fear classics.  They are remarkably easy to work on, parts availability is actually quite good, and most populous areas have at least one shop that specializes in them. 

I don’t mind being in a minority at all provided there are alternatives.