The industry has shifted greatly for creatives. Musicians especially. In the 90s which was peak old industry music, the labels would take chances on various artists and those artists would have a shot at something big for little while. The label paid for the studio time.

These days with creative tools so accessible and widespread, and the ability to publish so cheap, artists need to produce their own music and find their own following before the label takes them on. Instead of the label paying for studio time the artist does. I think that's why these discussions concentrate on the whole "fewer artists making more of the share" part. It IS different, but its not the whole story.

And I'd probably argue in favor of making creative endeavors more widespread instead of being in the lap of a few label executive taste-makers, but you definitely have fewer artists who can just concentrate on making great music and getting nice royalties. Now you have to do everything for a smaller pay day.