Are people really worth this much money? I can't help but think "$3.5m gets me 15 really good developers for a year, and a swimming pool filled with chocolate pudding, just for fun."
And musicians? Their situation is probably worse! The truth is talent is pretty bountiful. Finding out that no matter what hot shit you were in high school, there's an army of kids out there ten times smarter is a veritable right of passage. Maybe this guy is the top .01%, but I think the value you can extract from the relative brilliance of one member is a case of diminishing returns. Is he doing, 100% of the time, work that an actual 1% guy or several of them couldn't do?