Think INTERNET. The fact that you can download for FREE almost any song produced since 1920, is a testament to the 'value' of music these days. It's TECHNOLOGY that has devalued music, not a handful of guys playing gratis. In a sense, Arrangers could be included in this 'devaluing'. The fact that 1 person can accomplish (however poorly) what used to take 5-9 people (thereby reducing the cost of providing 'live' music) is a classic example of devaluing music/entertainment. AND....it's a two-edged sword. Individual OMB's may make a few bucks more but musicians in general, make a lot less (and work much less frequently).
If we're being completely honest (few people are), very few semi-pro week-end warriors even break even with their musical endeavors, and if not for supplemental income from their 'real' jobs, would be homeless, divorced, and living off the edible parts of their instruments (wood has lots of fiber

). Let's face it, unless you are a highly trained professional and/or associated with a 'name' act, your chances of making a decent living is minuscule. JMO.
chas