If anything, if that was actually true, it'd be a colossal indictment of prior generations of administrators and leaders demolishing the quality of education for those who followed. So for GP's sake, I hope they're actually wrong about math skills being weaker among the current gen.
Every high-end school getting lots of applications does mean more students are seriously trying for college, and yes, the same student in 1975 would have a harder time being admitted to UCLA today even if it's just because they're flooded.
If you want actual data, compare SAT scores or something. I'm willing to bet that by any metric, school was lax back then.