You can't use Gen X and Gen Y standards to assess contemporary Gen Z fests. For example, rock music as a genre is completely dead among Gen Z. So you can't invite rock bands because turnout will be low and companies will not want to sponsor. Jazz and Hindustani classical musicians will attract even lower interest. On the other hand, Bollywood, Punjabi, dance, hip-hop etc will attract both crowds and audiences. Market forces rule and you have to follow that.

One of the noticeable changes that has happened in the past decade is the desi-fication of law school fests. Earlier, only English-language musicians were invited, and even there a bias towards rock bands existed. Nowadays, it's Hindi/Bollywood pop that rules. This is probably because of the demographic shift in most schools, combined with market forces that values the masses over the classes, but it's really, really sad, because such music is awful. If you really want good Indian musicians, you should only invite classical musicians or someone like Ricky Kej or Sivamani, not such trash.