The Class of 92 occurred at a particular time in a different context, timeline and demographic-wise. Manchester United never spent that much on players although Sir Alex wanted top European players like Figo to come to Old Trafford.
While this was the subject of complaint including from people like Keano who said he demanded a bigger wage in order `to break the wage structure` so the top talent would be recruited (not sure if I actually believe that `motive`), it helped United to focus on developing its own talent and what came out of that is history.
There were also more English, Welsh, Scottish and Irish players in the Premier League. This was before some clubs were fielding a completely foreign line-up in the Premier League for some matches. Less competition with less foreign players meant greater opportunities for youth development.
We`ve had breakthrough players such as Marcus, Greenwood, Jesse and McT in the recent past and regardless of what people think of their behavior (talking about the first 3), these players have demonstrated the Academy still produces Premier League quality talent.