My two cents: It is pretty clear that the same generation using up the planet's resources, spreading consumerism everywhere, and keeping housing and healthcare unaffordable for younger generations is also quite ok with keeping the airwaves to themselves. The lack of oxygen -- that is, viable ways to make a living for artists -- started with Album Oriented Rock, and has continued to this day. Boomers and the generations they trained (in business school, law school, and with conventional "wisdom") have been amassing cultural and financial resources at an increasing pace, and young people have gotten the shaft.
Is Old Music Killing New Music?
I ran across this Atlantic magazine article on another music forum. It asks the question if old music is killing new music. I didn't realize that older music represents 70% of the music market according to this article. I know I use Qobuz and Tidal to find new music and new artists for my collection, but I don't know how common that actually is for most people. I think that a lot of people that listen to services like Spotify and Apple Music probably don't keep track of what the algorithms are queuing up in their playlists. Perhaps it's all becoming elevator music.