Bearding still exists and it's not just a generational thing. Openly gay actors don't get big roles unless they were famous before they came out. They get typecast into only gay roles or don't get work at all. There's huge financial and career motivations to cultivate an image of heterosexuality. Some gay actors do the whole coy "don't ask don't tell" or "my personal life is private" thing. But most just lie and get beards through contract or their agencies while only being out to close family and friends. We'll see more gay actors come out not because of a new generation but because the current actors end their 15 minutes of fame and status and now don't have anything to lose by coming out.