Not factored in is the fact that there is just so much media now.
I think we could stop all content creation today and everyone would still have enough to last through their grandchildren's lifetimes.
And unlike a lot of things, media doesn't expire. I still regularly find albums, movies, and books from decades ago I enjoy today.
Media of all forms is just worth less now due to oversupply.
Maybe. As a contrast, look at the book industry. We have access to 500+ years of books digitally, and yet most people prefer to read books written in the last 50 years.