Very interesting and valid points coming from a "producer" of music.
But there are two sides to every story. Like the consumer of music’s side.
In the old days, you only got to listen to a few select things that others in the industry determined to produce and play (on the radio).
Yes its easier than ever to both produce and listen to music which changes the whole value proposition, but at least one up side is its easier than ever for artists to get their music out there for others to maybe hear. Of course, there is more tro sort through than ever to find it. But, if its good enough and has the appeal, anyone might deliver a "hit". Maybe even form a successful career. All on their own, at least to start. Then the sharks come to feed as they always have.
So yes its all very diluted and more garbage than ever, but a music lover is able to find things they may never have had the chance to in the olden days.
All in all, as a consumer of music and not producer, I believe this is the best time ever for a music lover. Streaming is a big reason why. Who receives the profits? Probably not the vast majority of the worker bees. But maybe those special talents who somehow manage to "break through"? I still see plenty of artists out there that seem to have successful careers. Seemingly more than ever! Maybe Taylor Swift will share!
What happens is always market driven. I think the market for music is no less than years past. Probably more. But still only few will be able to grab the attention of many and perhaps achieve "stardom" and its rewards.
Being a musician was never an easy pathway to fortune for the vast majority it seems.
Interesting topic!