What he is comparing was a brief time in history that the music industry was at the absolute peak.
We have just gone back to normal that most people can't make money being a musician just like being an actor is not really a viable middle class career option.
Sure, when I graduated high school you could have just made a living in a local rock band because everyone wanted to be in a band to be the next Guns n Roses.
To me, it is like how even Hitler wanted to be a painter because everyone wanted to be a painter at that time. The way everyone wanted to be a rock star when i was a teenager.
Times change and the collective artistic taste change with them. So many musicians are doing better than ever before because of youtube too.
I play the baroque lute and I can tell you that it is much tougher to get a gig in a bar today than it was in 1650 in France.
The best lutenist though are killing it on youtube with Bach videos.