Future of collector cars
The reality is that among my peers (I'm 62) there are VERY FEW who have a classic car of any kind. We were uncommon in the 1980s and uncommon today. Most of my high school friends drive modern cars.
I also know quite a few "younger" folks who have an interest in the old stuff. These range from guys in their 20 all the way up. AND, anybody who thinks these "kids" can't afford to buy a classic, you should pay attention to them. I know a guy around 40 who owns a very successful concrete pumping business (not inherited from his folks). He still owns the '73 Challenger he had in high school. Another young man (getting close to mid-40s) still has his first car ('65 Satellite convertible) and a lot of other "old" stuff. My younger son still has his '67 Dart GT convertible (might get it back on the road this next year). Both of my sons will get one of our convertibles (yes, they want them).
As for what the government might do, that's anybody's guess (except California has already played their hand). It's also anybody's guess whether there will be any pushback from the "people"...