Terrible for musicians? Comparatively? There has never been a better time to make one's vocation music for the very reasons you have suggested (albeit it is as hard as it has ever been to get "big"). In the olden days many moons ago musicians (often) suffered in poverty until they caught a record deal - now they can develop from their bathroom, garage, (etc) and connect their music to any audience that is willing to listen to their music (or garbage).