This. Everytime I had an O-6 or above asking why my generation didn't want to stay in longer, I had to explain that I simply didn't have the same memories they had from their CGO years. It takes a lot of emotional attachment to the military to want to deal with the life of an FGO and above, and frankly, we didn't have that, especially in the heavy world.
Instead, we had the all-men-are-rapists campaign, the great cleansing of 2012, RIFs from my second year at USAFA until the sudden reversal in 2015, 0-0-1-3 and literal article 15s for shenanigans that were tame compared to the stories the O-6 writing the Art15 would tell in private, blah blah blah. Never mind the two-months-on two-months-off deployments to the Died that guys would do for years because the AF decided that trickfucking the 90 day flying hours restrictions was more important than any sort of balanced family life, or the camaraderie built from deploying as a squadron.
Ironically, after I was court martialed (not guilty all charges) it *improved* my Air Force experience. I was immediately relieved of all the non-flying nonsense that they make you do to chase down the next promotion. I would have done anything to get "back on the path," but they were done with me, and boy when you start producing the quality of work that you would expect from someone who has been guaranteed to be passed over, they stop giving you work to do.
If the AF wants to improve retention they need to accept that young people who want to kill people for their country have a lot of energy to burn in unsavory ways. Fail to provide that and they will not serve for another 10-20 years off the inertia of great memories and personal connections. Those people will in turn help recruiting.