Si, I'd love it if that were true, but it simply ain't how it works. Not because I'm any sort of expert, not because I know all about the music biz, but because of basic economics.
Supply has not been soaring because expectation has been dropping. Supply has been soaring because ... erm ... the supply has increased. This country is now full of music colleges that either didn't exist 20 years ago or were very much smaller. They make money by selling people degrees in music, and of course they want to sell as many as possible. They're not interested in how many musicians the country "needs", if that's even a valid concept, they just churn out thousands upon thousands of well-trained musicians who are desperate to get away from burger-flipping.
Demand has been falling because the number of venues has been falling very sharply. Changing attitudes to drink-driving, the introduction of the smoking ban, the morphing of the big breweries into property developers, and especially the fact that 'young people of today' are - broadly - far less likely to go and check out a live band than their parents were (or, in my case, their grandparents probably).
There are now far more, and far better-trained musicians out there looking for far fewer gigs.
Please note the complete absence of chaff in this argument.
wheat wheat!!