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Source? I remember artists being treated very shittily in the past too, I'm not convinced things have improved / declined significantly for them.
The decline in social safety nets, the increase in housing and cost of living and the rise of music distribution services that are openly hostile towards musicians earning an actual income off their music such as Spotify make my point indisputable (even worse Bandcamp being bought by Epic ensures enshittification of the last large platform left not hostile to musicians). Things are materially worse for the quality of life for people on the periphery of society.
-Spotify CEO Daniel Ek
Social safety nets are very much a regional issue, depending on the country they've actually improved.
Housing & cost of living is something that affects everybody equally, so it's somewhat weird to bring it up when discussing a particular profession. We're ALL having trouble buying a house.
Rise of hostile music distribution services... Major studios and music distributors have ALWAYS taken advantage of the power imbalance to shaft musicians. I don't know if it's just before your time, but the idea that they were being paid better in the past is laughable. Musicians having to tour and sell merch so they can pay their bills has been a thing since forever.
No, it really isn't, artists almost as a rule tend to occupy the peripheries of societies and not to make a ton of money or experience especially stable lives. This means if the average person is suffering artists are definitely suffering...