I think it's fine that this generation wants to live in an acronym environment.
Unless, they are not learning how to spell or not learning other important grammar that is needed in real life.
I may not look it up everytime I don't know it but, I was around long before this began, and I think it makes better to use as a code, so parents will not understand what kids are up to. So much for that idea. Now the parents can easily look it up in the dictionary link conveniently provided.