This concern is only even possibly valid if you limit your conception of "the industry" to the bubble-gum pop music industry. In classical music, in jazz, in various more creative fields of music which have more readily and flexibly adopted new models of promotion and distribution, the market is definitely still out there for great artists to succeed.

If you're "a band" and hoping for one of the five^H^H^H^Hfour^H^H^H^Hthree remaining big labels to hand you a career on a silver platter like in the 80s, then yeah, you might be fucked.