Does the saying "A person earns respect through their character, not their age" contradict Islam's call to respect elders?

The aforementioned statement is correct. A young person with good character is respected, while an older person with bad character disgraces himself. As for an older person with good character, he is respected for his age and his morals. The Sharia commanded showing respect to the elderly, as in the Hadith: "He is not of us who does not have mercy on our young ones and does not respect our elders." Some of their minor slips are overlooked due to their age. If an elderly person behaves badly, they should be advised gently and kindly, taking into consideration their age. A Muslim is commanded to respect those with good character and faith, whether young or old, and to particularly appreciate the elderly, especially if they possess faith and good character. Some elderly people may not observe the sanctity of their age, so they should be forbidden from evil deeds and reminded of the sanctity of old age and of preparing to meet Allah. The successful Muslim places everything in its proper place and obeys Allah's command.