As a generation Y person myself, I feel like older generations are combative against newer generations. Whether it was willful neglect or negligence, I am not sure, but the reality is that I am getting a pretty raw deal when compared to my parents and grandparents. Considering the societal or moral obligations parents have (or should have) to their children, I wouldn't say "betrayal" is too far off the mark. Apparently the sense of obligation from an older generation to a newer one doesn't extend very well when viewed in aggregate.
Oh I can agree that there's some palpable friction at play. I'm not sure it was betrayal as much as pure, unadulterated selfishness. Generationally speaking, even the parents (Baby Boomers) and their parents (Greatest Generation) are currently in pretty bad shape as well - all except for the X% who were doing the fleecing rather than getting taken along for the ride. It's not really hyperbole to look at the trillions in outstanding debt (not just Federal - have a look at the Muni market) and conclude that the Generation Y and Z will essentially be debt slaves based on decisions of the deceased. It's pretty disturbing on a fundamental level.