We didn't do it, neither did our school friends, but these days, money is tight, so I can't blame parents for taking breaks in school time.
I think it's as much, if not more about the fact that we now live in the age of entitlement.
My late Father was a Headteacher in Plymouth and West Cornwall where many Fathers were in the Forces.....if a deployment or ship sailing meant that a family holiday could only be taken in term time parents could apply for additional time off and he would use his discretion to grant it.
In practice however this rarely happened as parents tended to accept the commitments of the career they had chosen and also had more respect for education and regard for the consequences their own actions could have on other children's learning and staff.
Sadly society is much more selfish these days.