I'd tend to agree. It's always been tough to be a musician, but the last few years have been brutal....less live events, loss of places to play, harder to collaborate, harder to find people to collaborate with, finding new talent. That all adds up to less money and resources to record new music or bring new acts/collaborations up. I believe it'll get much better going into 2023-24 as things "catch-up" and ease back into just the normal challenges musicians have.
That said, there is a good amount out there and I have been happy with what I have found, it's also given me a chance to catch up on a few 'old' new bands and recordings (I spent a good deal of time comparing various Beethoven 9th's - Von Karajan is right now my favorite.)
Subscriptions to various magazines and websites (Music-Map is one I recommend) has helped me uncover more music. Also, expanding your genre's helps. I never really got into Death/Black/Doom Metal, but found Ghost and have enjoyed them.