First off: Clone High is awesome. What a lost treasure.
I was going to reflexively poo-poo the idea that there's this massive and unprecedented social pressure towards what you term "aggressive hedonism", until I remembered what university was like when I was there: if you wanted a social life, it was pretty much mandatory to drink as if you had the liver of Dionysus. That was a decade ago and, from everything I've heard, it's only gotten worse since.
I'm not sure it's as prevalent as you think - though I'm also not sure it's as much social imitation as lockesnow seems to suggest below. But where there are people actually fulfilling the improbable Dionysian extremes, they're really doing so. And alcohol isn't the worst drug being abused, in my opinion.
I'm still not convinced this is a really new phenomenon, though, or that it's genuinely the huge problem you seem to think it is ... censorship and possible legal punishments for criticising or lampooning Christianity...).
+1.
But we're not
settling into mindless decadence at all. The top tier is simply being culled for access. Prevalently, across the world, the bar of minimum education is dropping while the competitive merits necessary for grad school programs are becoming increasingly ridiculous (and realisticly, we'd probably have to acknowledge that compared to the growing numbers of enrollment overall, students who actually want to push the envelope like you suggest are rarer still). Even grad school diplomas are simply becoming the next generation's high school diploma in terms of social mobility.
Or we could talk the trickle-down effects of institution privatization.
But as you and I both mentioned: the bottom line is that where you have the YOLOs living one life, they're living it harder and more irresponsibly than the last generation, furthering their own doomed evolution and tugging at the rest of us with their ignorance.
Being appalled at the antics of the next generation seems quite natural and normal. It doesn't necessarily herald the downfall of civilization, though. 
Truth. And I'm not necessarily diving in here to wipe my brow with my handkerchief.
Was it really? Or was that just your biased perception/judgment of it? My experience in college was that so long as you had a vessel which could hold liquid in your hand, you were functionally a full participant, regardless of the volume you actually drank.
I think it's a bit of both as I wrote. In a third aspect, I actually think that people are more accepting now of people who don't indulge than kids are in my high school experience and now hearing from friend's who've become teachers. There are all kinds of people attending university. And I think the serious people, do take the experience seriously. There are all kinds of observable divides concerning the crowd most likely to abuse drugs, including alcohol. Hell, even certain programs can be distinguished from others as socially necessitating more drinking over less; and there as well there are outliers.
My prior three years I had enjoyed a high and mighty above-it-all perspective of 'disgust' at my fellow collegiates who were obviously engaging in aggressive hedonism and I was just too mature for it ... It's amazing to me just how easily I fell into misogynistic traps because I believed myself to be such a champion of women and women's rights, but somehow it was them that was the problem when it came to romance, not me, I never questioned myself in those days.
Cool thoughts, lockesnow. It's interesting as I read your post, all I could think about were more of my own biases.
For instance, I entered university as basically the youngest you can be as a mature student (at least in Ontario) after I'd dropped out of high school. So all that I notice now in attending university is how little life these children, really, in body but mind especially, have lived. The vast majority of these students are shouldering life-long debt, or worse, thoughtlessly wasting their parental benefactor's time, and just being handed the ample opportunity to both succeed and fail (though, most of them can't grasp the concept of holding your educators responsible for your consumer-academics, so..) at one of the most important experiences of their lives.
It actually blows my mind - I was an adult nearly everywhere in the world when I started, and I still fucked up large in past years.
But then if you think, University and College students were once required to learn a few languages, read a bunch of original texts, perhaps an instrument or something martial (of body movement)...
Do we all agree that james has a standing argument, I don't think we can really contest the results of promoting that sort of lifestyle, regardless of actual levels of embodiment?
I'm certainly not innocent of having partaken in extremes in my life.
I'd just like to a see a discourse in culture that offers people a way out. Loneliness + increased pressure to float into sickness and ruin through aggressive hedonism seems - at least to my dumb analysis - to be one of the biggest traps facing people today.
If I can take a mild stance on what you might have been saying before we got caught up in the institutional experience: You're suggesting, I think, that our sociocultural conceptual structures don't facilitate very many conversations like this - that can get real, so to speak - and instead offers all types of chemical experiences (be that "purchasing" to satisfy the constant barrage of propaganda on our devices, the prevalent availability of "feel-good" drugs, which in some cases is motivated by demand - but let's focus on prescriptions and socially mandated; alcohol, nicotine, and to a lesser extent, coffee and refined sugars, the fictive ideals fed to us to shape our expectations, etc) to mediate any consideration of that fact that we're living creatures and we've got issues.
Also, people often seem to forget that the prevalence of the hermit is a strange and novel phenomenon. Not the hermit, necessarily. But the sheer level of human disconnect individuals in the Western Empire are capable of boggles me.
If the devil deceives, its greatest triumph was not convincing the world it doesn't exist, but convincing us to trade our living, breathing agency for words on a screen (as much as this can be a very potent tool).