You can't coach a youngster to bowl 150k consistently, you can't coach a batsmen to have unreal hand eye coordination or immense strength or be cool and calm under pressure, these are natural gifts so why we are not getting these freakish players which we used to get in past?
Ok so let me pick at it one at a time.
You can't coach a youngster to bowl 150k consistently
Actually you can, well to an extent. Yes you need some inherent talent and ability like fast twitch muscles but how to bowl quickly is a physical process that can be understood and broken down scientifically. Watch National Geo graphics science of sports documentary series to learn how Brett Lee's action was constructed by Bio-Mechanical experts after he suffered a bad injury at a young age. One only has to look at the likes of Muhammad Sami, Dale Steyn and Brett Lee, all of who have bowled multiple overs in the 145-150 range at the ages of 35 and over. Shaheen Afridi also has the potential to bowl 150+ but his action isn't as efficient as someone like Mitchel Starc, you can see for yourself by looking at their actions from multiple angles. Young Musa Khan clocked 145+ multiple times in the U19 WC. We are still getting these players with the raw natural ingredients, that process can't simply stop but a kid from the streets can't suddenly start bowling to Virat Kohli, there has to be a systematic process and that makes a world of difference. Look at how Australia have an entire battery of bowlers who can bowl 150, India has some already playing and others coming through and the same goes for teams like South Africa.
you can't coach a batsmen to have unreal hand eye coordination
No you probably can't but you can vastly improve it. Kids who start with sports early in life can build better hand-eye coordination. There are techniques and exercises in coaching manuals for the very purpose of improving and maintaining hand-eye coordination. Just recently I saw videos of a professional Australian sports coach teaching and practicing juggling to improve the hand-eye coordination.
And if you are talking about total freaks well we just recently had Sharjeel, Fakhar has amazing hand eye coordination as well, same goes for Umar Akmal. These guys are and always have been rare but they are coming up as always. But let me ask you: do you think guys like Virat Kohli, Sachin Tendulker and AB Devillers didn't or don't have amazing hand eye coordination? Of course they do but just relying on that only takes you so far.
These naturally gifted players are coming just like they always did. Humans with good reflexes, fast twitch muscles and good hand-eye coordination don't just stop being born all of a sudden. But then comes your question of why they aren't being transformed into World Class players like before? Well the answer is simple and it's that the circumstances have changed a lot.
The same Seed Anwar, Inzamam, Zaheer Abbas and Miandad would have had vastly different techniques and batting styles if they came up in today's Pakistan. Simply because they would be faced with different circumstances. When you are faced with certain circumstances you try to adapt to them and you form your style and techniques to them. Every circumstance presents a certain challenge and only those who can meet them come out on top. A simple example is if I bowl to you in the nets with horizontal arm baseball style throws and bowl every ball full and I even tell you its going to be full the you'll change your technique and stance accordingly. You may start off with a stance as perfect as Tendulker's but after facing hundreds of low and full deliveries you'll probably unconsciously switch to stance like Sarfraz Ahmed or Younis Khan. This is what happens to our current domestic batsmen who face low boncing wickets operated upon by medium pacers and this is why so many of them have this crouching stance (I and others here call them crouching tigers). Players will always adapt and specialize themselves to address the challenges which they are faced with and what they become is simply a consequence of those challenges.
Another of these circumstances is low scoring pitches. When you continuously play on pitches where the par first innings score is around 200-250 it cultivates a mentality. 70s and 80s all of a sudden seem like big scores. Whereas someone who comes up on flat pitches will be faced with a different challenge, to produce a stand out performance he will have to score 100s, 150s and 200s. The players of the past came up on flatter pitches in general and thay had a different mindset. The same principle can be applied to bowlers.
Another difference is the lack of county cricket. Back in the 80s I think there were a dozen Pakistani players(well I might be exaggerating) in county cricket and that was the place where they got exposed to top quality coaching. Abbas looked a different beast immediately after his county stint, that may give an indication of the difference it can make.
And lets not forget that cricket is a different beast altogether these days. The modern fitness standards, the increased number of games and analytics all present a different sort of challenge. Players get analyzed and worked over and have to constantly adapt and improve something that just wasn't there in the previous era, not of this extent anyway.