Generational Wealth as Motivation for IB

Often times I hear people talk about entering IB to set up for their family, and create generational wealth for their kids. Recently I have been processing my own family, and I am interested how bankers view the idea of generational wealth. My great grandparents and grandparents really grinded to create a large company and made big $$. My parent inherited the net worth of a MF PE partner, and did nothing for it other than being born. Same with other uncles and aunts. My grandparents live very frugally, and live less flashy lifestyles than my parent/uncles and aunt, despite being worth considerably more. My parent's generation will likely leave 1/10 of their wealth to their kids (still a very considerable amount) , having spent lots of it, whereas my grandparents left the majority of what they were made to their kids (my parent's generation). 

I often see this trend with other wealthy families. One generation grinds, the next coasts, spends the money, and the next generation is must pick up the slack or else the generational wealth will fade. all my siblings go to ivies and grind much more than our parent's generation, who just went to school and partied without care. I tell this story for two reasons:

1.) If the goal of so many bankers is to gain generational wealth for their families, is pure net worth the best metric? Obviously it is dissapointing to grind for years to see your dispassionate kids live easy and carefree. There are monetary ways a parent can improve the lives of their children: elite education, extracurricular opportunities, the cushion to try hobbies and academic interests at a young age. Perhaps these things are way more important than a family net worth.

2,) What is the best way to prevent the "lazy generation" that doesn't have to work? In some ways, my grandparents grinding probably interfered with the parenting of my parents, which affected their lifestyle today. The importance of good parenting and an active household really seems to be at play, and thats something money really can't pay for.