What some former service people are missing is that they have witnessed a significant degradation in the terms and quality of service over the years, which understandably has created an unfavorable impression of life in the services.
This comparison with "back when I joined" is not valid for somebody joining today. There is no yearning for the good old days when you started yesterday. The pension will be the pension that's in place today, the equipment and manning levels will be what they get used to.
Compared to what the outside world has to offer, a career in HM Forces still looks very attractive. Few would argue that the training, discipline and can-do attitude learnt in the military create an ecellent baseline of skills for life beyond it. The cameraderie and travel may look bleak when compared to the 1970's Armed Forces, but compared to being a customer service advisor for Direct Line it, still looks very impressive today and tomorrow.
Although being in or retired from the military requires every sentence to start with "back when I joined", it helps if comparisons are made with what young people have as realistic careers options. Comparisons with the halcyon days of the Armed Forces are not entirely objective.