that's a simplistic analysis that doesn't really capture the whole effect a universal basic income might have. For one, with a livable basic income, the value of housing shifts somewhat--since there's not essentially a requirement to have a job, the demand for housing-near-jobs changes. It is hard to predict exactly what direction that might shift in.

The competitive environment around an artistic endeavor changes too--you have the ability to experiment and fail and not be forced out entirely, since you can fall back and change things up without having to worry about finding a job. And it might not be the case that everyone looking for a creative outlet is looking to make it into a living.