Generational Theory and Character Building

Many of us are fond of vast generational stereotypes based on Generational Theory, which groups us by cohorts, assigning sheltered fragility to Millennials, apathetic cynicism to Gen X, hedonistic entitlement to Boomers, stoicism to the Silents. Do these broad generalizations encourage cliched characters? How well do they take into account intersectionality: differences in ethical culture, national origin, sexual preference, ability, gender, etc?