The first part of this post is superb, with the exception of the discussion of productivity. Many “older” people would love to be in money-making jobs; there’s just too much age discrimination.
Why so much focus on depression? That’s more than half the article.
You should note that it’s important not to label people as “depressed” when they react reasonably to their limited possibilities. Read Susan Jacoby’s book, Never Say Die. We used to give spy pilots cyanide tablets in case they crashed, so they could avoid the horrors of POW camps. Frankly, those POW camps aren’t much worse than some nursing homes. It’s not depression to seek to avoid a life that’s filled with pain and devoid of all meaning. I hope that option is there for me when the time comes.