Before, if you were a writer, you could write for the neighbourhood paper or magazine and carve out a decent living (see: Hemingway, DFW, etc.) Now, unless you're a staff writer for the NYT or maybe 10 other 1%er sites, there's no way to make a living off subscription sites. They have killed local markets that have supported writers. Book sales are down. Newspaper sales are down. Literary magazine sales are non-existent. Anecdatum: I wrote a series of Medium posts this month with a Patreon link at the bottom: 70k hits, $0 donations. It's hard for me to imagine reaching 70k people with my writing in 1910 and still being a pauper.
Two things: this isn't necessarily all doom and gloom. There are probably more artists living than at any point in history. And the internet helps us reach more people than ever before.
However, bragging that the world's most popular newspaper is adding subscriptions and that another couple of creators are making $10,000 on Patreon does not a Renaissance make. Patreon's PR team is trying to spin something that—at least for writers—isn't happening. The needle is not moving.