"snowflake" is used commonly as a pejorative without a clear definition in mind, much less a consistent application criteria. If you could specify in more detail what phenomena you think may be related to low testosterone, you're more likely to find better reception.
Someone else can probably describe it better than me with concrete examples and comparing and contrasting different periods in history, I only have a feel for the zeitgeist.
Hipsters, Hippies, Beatniks, Bohemians- there have always been youth cultures with an equal mix of idealism and entitlement. Usually these subcultures are rooted in the educated middle classes. With the massive increase in higher education rates in the past half century, these subcultures grow larger. None of this is new. It's just an effect of societal development.
I think it correlates, but I don't know if one causes the other.
I've been hearing of these kind of "testosterone levels are declining" studies for a while. For a looong time I've been perplexed by modern males -- they just don't seem like people I grew up with. Physical forms are much softer, voices lighter -- lots of either ectomorphs or endomorphs. For me, these studies provide an "Ah, so that must be it" way of seeing it. At least it's a plausible explanation.
Related to this, we need to bring the word "twerp"[1] back into the vernacular.
