I'm with you on the rest, but I completely disagree with your last statement.
Great art has always been around, but you've always had to seek it. You'll almost never find it at the top of the charts or making big box office, for the reasons you mention.
I booked music for a small "alternative" club in the mid-nineties. Ever since then I've said that for every band that made it, there were at least a thousand more that were as good or better that will never get a sniff at success.
Sadly, talent doesn't guarantee anything, but true artists will continue to create anyway. The ones I've met are driven by a force inside them, not by dreams of money and tail.