Dude, are you living under a rock?
These bands are creating new music. But the money that allows them to do so comes from their old music. I have bands in my collection that have been making music for 30 years.
And I'm pretty sure even small bands make good money nowadays from touring,
No they don't. They don't even make ok money. Tours are expensive and a lot of people, from road crew to venue security, take their cut before the musicians. The big guys, they make a killing on tours. But the small ones sometimes don't even break even.
In fact, a common wisdom in the industry is that touring is worth it not because the tour itself makes profits, but because it builds a fanbase and drives what is called "catalog discovery" - both old and new fans looking buying the albums with the songs they liked (and for the old fans, didn't know).
This study: https://www.giarts.org/article... says that 28% of income across all the musicians surveyed comes from tours. The share is larger for the rock/pop sector where it nears 40% but even that isn't easy money. And if you consider that only 20% of the rock/pop musicians make more than $50,000 a year, then it becomes a hollow statement.
Plus, it goes directly against your first statement - while on tour the band is not creating new music. So if you want to drive musicians more towards constantly creating (which most of them already do), then you can't make live performances the main income source.
