Albums haven't been making musicians rich from a long time. Having their songs played on the radio didn't make them rich either.
But having their songs heard got them fans which go out and see their live shows/tours, and that makes them quite a bit of money. Merchandising/Cross promotional deals can make them quite a lot more. (Dr. Dre's Beats brand headphones have totally eclipsed the amount he made in his entire career in the music industry).
The cold hard fact here is that the changes in the music industry are going to happen, no matter what. Spotify and Pandora at least get the artists some money in the meantime. Pirates are not entitled to free music...but they're going to do their thing anyway. Giving those listeners a free stream that at least makes some returns off them gives the artist something rather than nothing.
Even if one day it becomes impossible to make a living off music, I guarantee you, there will still be plenty of music because there are just too many people who want to make music (not all of it good). They'll do it in their spare time while still holding down a full-time job, they feel they need to make that music. Whether that's fair or not, it's still true. The supply of music is overwhelming compared to the demand.