I think those in the 2020s who would study as hard as those in the 2000s or earlier while preparing for competitive exams have the same, if not better, odds of getting into a good engineering, medical, or commerce school.
One may challenge this, arguing that 1) the number of students appearing for the competitive exams is higher and 2) the increase in the number of seats has not been enough; concluding that there’s higher competition than before.
I agree with the arguments but would differ with the conclusion.
There is more accessibility to learning material and coaching with or without in-class learning. Multiple techniques for solving an equation can be learned through an internet search. There is more training and test material available than before.
On the other side, nowadays, students are perpetually distracted by social media or phones. Many are lesser inclined to devote themselves to 3/4/5 years of rigorous college training. Then there is the rise of job opportunities like content writing, photography, or travel/fashion/motivational blogging/speaking.
This works in favor of those willing to stay focused to pursue higher education to have higher odds of getting into a good school.