No, I'm afraid I have to disagree.
First, Just because uglier women are having children with better looking men, doesn't equal to a decrease in attractive people. Since the beginning of time up until 20ish years ago, there were more ugly men having children, which cancels out that side of the argument.
Second point is the internet creates expectations of what men need to achieve, doing everything they possibly can to become the most attractive versions of themselves e.g looksmaxing and cucktok transformations.
Lastly, I have experienced this with my own eyes. Since around 2015s era, it was very rare to see a genuinly good looking guy between 16 - 25, now everytime second person is 6.5+.