The nepo babies wouldn’t serve–same as always. And the political unpopularity of conscription has never changed. The last war draft is still in living memory, and US current military activity hasn’t been an improvement in terms of public appetite.
The US introduces conscription again, and there’ll be riots–and I don’t mean “some kids camped at college and the jackboots locked them up” protests; it’ll be government-building burning, widespread-looting riots.
If you want to do conscription, the kids have to trust the government not to kill them for oil.