I don't actually think it's wrong to cherish old values. I just think it's incredibly unfair to criticise the modern world and many of the people in it while also brushing aside the huge amount of progress that has been made. Things that have improved include: equality, healthcare in general (although in some areas things appear to have gone backwards), average wealth, educational standards overall.
The world these days is also far more connected than ever before -- certainly globally. This is not always a good thing, but being exposed to people from other countries and other cultures far earlier is something that the older generation never had. I know and have regular conversations with people from all across the world -- in the past most people knew only those in the same village. This is a different kind of friendship, but none the worse for that.
On the other hand, I think people generally enjoy knowing those about them and something of the personal touch has been lost from many parts of life. In part this is because those same parts of life have become bigger, comparatively cheaper and "more efficient" -- but at the expense of being less personal.
Anyway, those are some of my thoughts, take them or leave them. I hope it's fair. It's just as ridiculous to pretend that everything has improved as it is to pretend that everything is worse than it was "back in the day".