Pluto was demoted by astronomers because they needed to clean house; their action has no effect on astrological Pluto.
A word on the 3 outer planets. They are often said to be "generational" or "collective". And they are. But that is misleading.
They show trends in the collective, true, but more than that they show the native's responses to the collective trends. It is a serious mistake to relegate them to a secondary level because they are "generational". They most certainly act on the individual with great strength.