Artists can do and have done all of the above, especially on the indie scene.
The "just a performer" model is only true for that small percentage of singers who are just performers. That model includes some of the bigger household names. Some of them are essentially fashion models who sing and dance, not musicians. Others are singers who also produce, and have a feel for what sounds good even if they can't play all the parts. (This is harder than it sounds.)
There's literally an entire industry of independent artists who record and produce at home, do their own tour management and logistics, maybe mix in a studio for some final polish, handle distribution, and so on.
And an entire related industry of bloggers, DJs, and other online sites that review and curate the most interesting new music.
The labels keep on keeping on, but their business model is very fragile now. They wait for a producer to manufacture a band, or for a band/artist to bubble up from the indie (artist - not musical style) scene.
When they reach a critical mass they try to buy them. Sometimes this works, sometimes it doesn't.
The bizarre thing about A&R budgets over the last few years is that they're as huge as they've ever been, but concentrated on a relatively small number of artists. Because there's a lot of money involved the labels are ridiculously risk averse. If a signing doesn't turn into a cash cow after the first album they're dropped.
This has always happened, but the cycle is so short now that only acts that have instant mass appeal or a guaranteed existing fan base are successful on labels. Everyone else is indie.