> As a new artist you have to compete against 60+ years of music history

Kinda, sorta. Good music is reflective of the society and era it was produced in and that matters. I regularly listen to music, from all over the world, that was composed (and some, recorded) 100+ years ago, music that was recorded 50+ years ago, and music that was recorded last month. None of them are a substitute for the other because each has a unique voice expressing things that were unique about the time and place they were made in.

So, in a sense, they aren't in competition with each other. But also, there are only so many hours in a day and there isn't enough time in your life to listen to all the worthy music that humans have made. Hard choices are necessary. In that sense, they are in competition with each other.