Why Ad Agencies Still Target Young Demos

A colleague was preparing a pitch for an ad agency wanting to reach men 35-54 for a sports outdoor outfitter.  I am not a hunter and fisher but have friends and acquaintances who live to do both.  They are all pushing the other side of 50.

So why then such a narrow age target?    Isn't the 50-65 a very lucrative age group considering that age group is getting into their best earning years with probably less expenses at home?

When will the ad world wake up to baby boomers?  Thanks to Chuck Nyren for this video.