Every swear word that YOU think is acceptable was as shocking to a previous generation as you think the 'F' word is now. That is the plain fact of the matter. YOU are as big a disappointment to previous generations as the kids today are to YOU.
And, as Chas points out, there are FAR uglier things in today's society than language. Some of which have been expressed here quite publicly by those who would be outraged at the 'F'-word. That mote in someone's eye is FAR easier to complain about than do something about the beam in your own, isn't it?
Pick a swear word you DO think 'acceptable'... Imagine saying it at the tender age of sixteen to your grandparents. Imagine the tanning your hide would have got! Imagine them going 'I hate to be of the generation that watches the moral collapse of our planet' and you thinking 'What a right fuddy-duddy!' and 'I'll never think like THAT!'
Welcome to the onset of senility....