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Well, yes, this is true. I became interested in advertising after learning about guerilla ads - obscure, untraditional methods meant to interact with and interest the consumer.
Now, after four years in college, guerilla/viral/interactive and outdoor ads are the norm. The CoolHunter lets others know that they use "innovation." (like everyone else who wants to survive in this market)
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It's not that people have shorter attention spans. It's just that they've been exposed to AWESOME stuff and they are not about to backtrack to 2x4 BW ads in the newspaper. I like to be entertained, so does everyone else. So, advertising is entering the awesome-era. Prepare to be entertained... its supply and demand. We demand to be entertained, ad geniuses will supply.
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